Microsoft Corp. shares hit a two-month high Tuesday after Goldman, Sachs & Co. said rising demand for the video game "Halo 3" will boost profits this quarter.
"We are expecting a strong quarter," analyst Sarah Friar wrote in a note to investors. The San Francisco-based analyst, who has a "buy" rating on Microsoft, raised her profit forecast for the fiscal first quarter by a cent to 40 cents a share.
Microsoft, which is scheduled to report results after the market closes Oct. 25, may show a profit of 39 cents, according to analysts polled by Bloomberg.
"Halo 3," the latest installment of the alien-shooting Xbox 360 game, brought in sales of $300 million in the week after its Sept. 25 debut, making it the fastest-selling video game ever.