Microsoft has reported record quarterly revenue and earnings per share for the quarter ending March 31, 2013. In addition to that announcement, the company also revealed that CFO Peter Klein is to step down after 11 years at the company with four years in his current role. Klein's successor will be named in the next few weeks.

Revenue was $20.489 billion, up 18 percent on the same quarter last year. Operating income was up 19 percent, at $7.612 billion. Earnings per share were also up, gaining 20 percent at $0.72. The company announced a dividend of $0.23 per share.

Microsoft reported non-GAAP results too, and these reflect Windows 8, Office 2013, and Halo 4 revenue that was taken in prior quarters for products not delivered until this quarter. The numbers also include a $733 million fine paid to the European Commission for failing to offer the browser ballot screen to users of Windows 7 Service Pack 1.

With these adjustments, the company reported revenue of $18.831 billion, operating income of $6.687 billion, and earnings per share of $0.65. These represent gains of eight percent, five percent, and eight percent, respectively.

Windows Division revenue was $5.703 billion, up 23 percent on the same quarter a year ago. However, $1.085 billion of this was revenue taken in previous quarters for the Windows Upgrade Offer. Excluding this, revenue was $4.618 billion, essentially unchanged year on year. Operating income for the division was $3.459 billion, up 16 percent from third quarter 2012.

Windows revenue is split between OEM and non-OEM sales, the latter including Surface sales, retail upgrades, and corporate volume licenses. The OEM revenue was in line with the overall PC market—a market that fell almost 14 percent last quarter—but the non-OEM share was up 40 percent. Volume licensing grew by double digits, and the company says that two thirds of enterprise desktops are now using Windows 7. With less than a year of Windows XP support remaining, that number should continue to grow.

The Microsoft Business Division had a strong performance. MBD revenue once again eclipsed Windows Division revenue, after falling behind last quarter, at $6.319 billion (up eight percent year on year). The non-GAAP revenue, reflecting revenue taken in previous quarters for the Office Upgrade Offer, was $6.126 billion, a rise of five percent. Operating income was $4.104 billion, also up eight percent year on year.

Within MBD, the company reported that Exchange, SharePoint, Lync, and Dynamics revenue all grew by double digits. Lync in particular grew by more than 30 percent. Business revenue was up 10 percent, with multi-year licensing revenue up 16 percent.

Server and Tools revenue grew 11 percent, to $5.039 billion. Operating income was up 17 percent, to $1.979 billion. Multi-year licensing revenue grew 20 percent, and Enterprise Services by 11 percent. Microsoft claimed strong growth in its enterprise software as well. Hyper-V has increased its share of the virtualization market by four percent. The System Center suite's revenue grew by 22 percent, and SQL Server revenue was up 16 percent, outpacing the database market.

The company even gave details about its cloud services. Office 365 is on track to bring in revenue of $1 billion per year. One in four enterprise customers now have some cloud seats. Windows Azure is picking up customers, including NBC Sports, 3M, and Telenor, and close to 1.5 million virtual machines have been created on Azure's new Infrastructure Services.

Online Services Division is continuing its slow progress toward profitability. Revenue was up 18 percent, to $0.832 billion. The operating loss was down 46 percent, to $0.262 billion.

Entertainment and Devices Division posted strong results. Revenue was up 56 percent at $3.531 billion. Operating income was also up: a profit of $0.342 billion, as compared to a loss of $0.228 billion a year ago. Even in its twilight months, 1.3 million Xbox 360 consoles were sold, a drop of nine percent. Xbox LIVE membership has grown 18 percent to more than 46 million. Skype minutes are up 56 percent, to 161 billion.

Next quarter, Windows Division OEM revenue is expected to be impacted by the decline of the PC market. In MBD, volume license revenue (60 percent) should grow by low double digits, transactional revenue will be in line with the PC market. Server and Tools revenue, both product revenue (80 percent) and Enterprise Services revenue (20 percent) are expected to grow by low double digits. Online services revenue is also anticipated to grow by low double digits. Entertainment and Devices revenue should grow by mid teens.