Things are going well in Redmond
Microsoft has been doing everything it can to bump up its consumer sales of the Surface tablets and Windows Phones . It seems that the company also made some inroads with its commercial sales, managing a 17 percent increase in profit in the first fiscal quarter—a total of $5.2 billion—according to a report by Reuters .
Windows 8 hasn’t made the biggest splash, but it’s starting to gain ground —even notoriously skeptical Deputy Editor Gordon Ung has come around . Although Microsoft’s devices and consumer business side had a 4 percent increase in revenue, the real star was its commercial business which yielded a 10 percent increase. Analysts had predicted revenues of $17.8 billion on average, and were caught off guard by the 16 percent increase to $18.5 billion. Consequently, Microsoft’s stock jumped to $35.65 from $33.72.
Todd Lowenstein, a portfolio manager at fund firm HighMark Capital told Reuters: "Beating on revenue and earnings handily will boost confidence that the reorganization is pivoting them in the right direction."
Follow Ben on Twitter .