Microsoft reported revenues of $20.40 billion for the quarter ended March 31, 2014, on Thursday. Gross margin, operating income, net income, and diluted earnings per share for the quarter were $14.46 billion, $6.97 billion, $5.66 billion, and 68 cents per share, respectively.

Satya Nadella (CEO, Microsoft):  This quarter’s results demonstrate the strength of our business, as well as the opportunities we see in a mobile-first, cloud-first world. We are making good progress in our consumer services like Bing and Office 365 Home, and our commercial customers continue to embrace our cloud solutions. Both position us well for long-term growth. We are focused on executing rapidly and delivering bold, innovative products that people love to use.

Devices and Consumer revenue grew 12% to $8.30 billion.

• Windows OEM revenue grew 4%, driven by strong 19% growth in Windows OEM Pro revenue.

• Office 365 Home now has 4.4 million subscribers, adding nearly 1 million subscribers in just three months.

• Microsoft sold in 2.0 million Xbox console units, including 1.2 million Xbox One consoles.

• Surface revenue grew over 50% to approximately $500 million.

• Bing U.S. search share grew to 18.6% and search advertising revenue grew 38%.

Commercial revenue grew 7% to $12.23 billion.

• Office 365 revenue grew over 100%, and commercial seats nearly doubled, demonstrating strong enterprise momentum for Microsoft’s cloud productivity solutions.

• Azure revenue grew over 150%, and the company has announced more than 40 new features that make the Azure platform more attractive to cloud application developers.

• Windows volume licensing revenue grew 11%, as business customers continue to make Windows their platform of choice.

• Lync, SharePoint, and Exchange, our productivity server offerings, collectively grew double-digits.

[Image courtesy: Microsoft]