Microsoft Beats Analyst Expectations for Third Quarter

saw revenue and profits beat analysts' predictions for its third quarter, posting a 13 percent jump in revenue to $16.43 billion compared to the same quarter last year.

The company said Thursday it earned $5.23 billion, or 61 cents a share, up 36 percent from a year ago.

“We delivered strong financial results despite a mixed PC environment, which demonstrates the strength and breadth of our businesses," said Peter Klein, the company's chief financial officer, in a statement. "Consumers are purchasing Office 2010, Xbox and Kinect at tremendous rates, and businesses of all sizes are purchasing Microsoft platforms and applications."

Todd Bishop at Geekwire has more on the story.