Shares were up over 7% after hours following Microsoft's reported fourth-quarter revenue of $76.4 billion and earnings of $3.65. Analysts surveyed by Bloomberg expected quarterly revenue of $73.89 billion and earnings of $3.37 per share.

Microsoft Corp. is set to become the second company in the world to reach a $4 trillion market capitalization after reporting quarterly earnings that beat Wall Street’s expectations, sending the stock soaring in extended trading Wednesday.

Microsoft isn't slowing down. The world's second-largest company by market cap reported blockbuster fourth-quarter earnings, sending shares surging so high after hours that the tech giant became a member of the exclusive $4 trillion club.