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Microsoft's latest quarterly financial report, for the three months that ended on September 30, 2014, has just been released. The Redmond, Washington-based company reports that it recorded $23.20 billion in revenue for its FY15 Q1 time period. That's compared to $18.53 billion in revenue from the same period a year ago.

Net income for the company came in at $4.54 billion for the quarter, compared to $5.24 billion from the same period a year ago. Microsoft added:

These financial results include $1.14 billion of integration and restructuring expenses, or an $0.11 per share negative impact, related to both Microsoft's restructuring plan announced in July 2014 and the ongoing integration of the Nokia Devices and Services ("NDS") business.

Microsoft said that revenues from its Devices and Consumer divisions grew 47 percent to $10.96 billion. Here are the highlights:

  • Office 365 Home and Personal subscribers totaled more than 7 million, representing more than 25% sequential growth over the previous quarter.
  • Surface Pro 3 momentum drove Surface revenue of $908 million.
  • New Windows consumer licensing programs drove positive unit growth while OEM non-Pro revenue declined 1%.
  • Total Xbox console sales were 2.4 million, growing 102%, and Xbox One launched in 28 new markets.
  • Phone hardware revenue exceeded $2.6 billion with ongoing focus on execution discipline.

Microsoft's commercial division saw its revenues go up by 10 percent to $12.28 billion. Here are its highlights:

  • Server products and services revenue increased 13%, with double-digit growth for SQL Server, System Center and Windows Server.
  • Office Commercial products and services revenue grew 5% as customers transition to Office 365.
  • Commercial cloud revenue grew 128% driven by Office 365, Azure and Dynamics CRM.
  • Lync, SharePoint and Exchange, our productivity server offerings, collectively grew double-digits.
  • Windows volume licensing revenue increased 10%.

Source: Microsoft