Shares of Microsoft (NASDAQ:MSFT) increased 5 percent in late afternoon hours. Microsoft reported quarterly earnings of 62 cents per share on revenue of $18.53 billion. Analysts only expected Microsoft to earn 54 cents per share on revenue of $17.79 billion. “Our devices and services transformation is progressing and we are launching a wide range of compelling products and experiences this fall for both business and consumers,” said Steve Ballmer, chief executive officer at Microsoft. “Our new commercial services will help us continue to outgrow the enterprise market, and we are seeing lots of consumer excitement for Xbox One, Surface 2 and Surface Pro 2, and the full spectrum of Windows 8.1 and Windows Phone devices.” Microsoft shares are up about 31 percent year-to-date.