Microsoft Revenue Up 7% To $17.37B, Earnings At $0.68 Per Share

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(Video Demo) Bill Gross Chimes In

Microsoft just reported its first quarter 2012 earnings with revenues of $17.37 billion, an 7% increase from the same period of the prior year. Microsoft’s operating income was at $7.20 billion, its net income was $5.74 billion and its diluted earnings per share were at $0.68, a 10% increase from last year.

Microsoft attributed this revenue growth to the demand of several key products,”We had another strong quarter for Office, SharePoint, Exchange, and Lync, and saw growing demand for our public and private cloud services including Office 365, Dynamics CRM Online, and Windows Azure,” said Microsoft COO Kevin Turner. Notably, Microsoft’s acquisition of Skype was also completed during this quarter.

The company beat Wall Street’s revenue estimates, which were at $17.25 billion, and hit EPS estimates, which were at $0.68 a share, square on the nose.

The Business Division and Windows Live Divisions continued to be the company’s biggest assets, with $5.62 billion and $4.8 billion in revenue and $3.25 billion and $3.66 billion in operating income respectively. Microsoft’s Online Services Division, a.k.a. Bing, continued to operate at a loss despite 19% revenue, at $494 million lost versus $558 million in the same quarter last year.

Microsoft’s earnings call will be at 2:30PM today, and you can follow it live here.