Redmond published its earnings report for the third quarter of the year, which actually is its first quarter of the new fiscal year 2014, and it brought in $18.53 billion in revenue. Net income came in at an impressive $5.24 billion.

This makes it a notable improvement over the same period last year. Back then, Microsoft had registered $4.47 billion in net income on revenues of $16.01 billion.

This is the first earnings report after the company unveiled its massive reorganization process, which outgoing CEO Steve Ballmer dubbed as ‘One Microsoft’. These clearly are strong financial results, more so when you take into consideration that the technology titan is reshuffling its upper management.

Amy Hood, the chief financial officer at Microsoft had this to say in a prepared statement:

“We saw strong focus across our teams, generating record first-quarter revenue even as we navigate a fundamental business transition. Our enterprise renewals were very healthy and our devices and consumer business continued to improve.

We are making strategic investments in areas like technological innovation, supply chain management, and global cloud operations to build for the future and create long-term shareholder value.”

The Devices and Consumer business reported $7.46 billion in revenues for the quarter — an increase of 4 percent from the same time period last year. However, the Windows OEM business witnessed a decline of 7 percent, and the Surface unit reached $400 million in sales.

More notably, however, Bing is starting to come into its own, with growth in ad revenue coming in at 47 percent. SQL Server posted double digit growth too, and SQL Server Premium improved 30 percent.

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