today announced quarterly revenue of $20.49 billion for the quarter ended March 31, 2013. Operating income came in at $7.61 billion, net income rose to $6.06 billion, with diluted earnings per share hitting $0.72 per share, beating Wall Street estimates in every regard. Additionally, Microsoft is replacing its Chief Financial Officer at the end of the current fiscal year -- no replacement has been named.
The Microsoft Business Division posted $6.32 billion of revenue, an eight percent increase from the prior year period. The Server & Tools business reported $5.04 billion of revenue, an 11 percent increase year-over-year, driven by double-digit percentage revenue growth in SQL Server and System Center.
The Windows Division posted revenue of $5.70 billion, a 23 percent increase from the prior year. The increase reflects the debut of both Windows 8 as well as the Surface product line. Online Services reported revenue of $832 million, an 18 percent increase from the prior year period. Online advertising revenue grew 22 percent, driven by an increase in revenue per search.
The Entertainment and Devices Division posted revenue of $2.53 billion, an increase of 56 percent year-over-year. Xbox Live now has over 46 million members worldwide, an 18 percent increase from the prior year period.
The company also announced Microsoft CFO Peter Klein will leave the company at the end of the current fiscal year, after nearly four years in the role and 11 years at the company. Microsoft will be naming a new CFO from its finance leadership team in the next several weeks. Speaking on the departure of Klein, Microsoft CEO Steve Ballmer said that Klein had been "a key member of my leadership team and a strategic advisor to me, and I wish him the very best."
Microsoft shares are up nearly two percent on the news, with slightly above average trade volume.