Jim Cramer: Microsoft Shares Are Okay to Chase

Microsoft (MSFT) - Get Report shares are pushing higher after its impressive earnings report, but it is okay to chase them as they rise, says TheStreet's Jim Cramer. Microsoft reported fiscal first-quarter revenue of $22.33 billion, up 3% from a year earlier, and profits of $0.76 a share, topping analysts' estimates for revenue of $21.71 billion and earnings of $0.68 a share. Sales growth would've been stronger if not for a 72% revenue drop for a phone business that's now largely an afterthought. On its earnings call, Microsoft guided for its three reporting segments to collectively post fiscal second-quarter revenue of $24.65 billion to $25.45 billion, below a $25.84 billion consensus. But the company has often guided conservatively before. The guidance doesn't account for the $26.2 billion LinkedIn acquisition, which is expected to close in the second quarter.