Another top-notch earnings report for Microsoft (MSFT - Analyst Report) came out after the bell Monday. The world's largest software firm brought in 71 cents per share on revenues of $26.5 billion, topping the estimates of 70 cents and $26.05 billion, respectively. The earnings per share also accounts for a two-cent per share hit on the bottom line on integration and restructuring expenses.

The big story for Microsoft in its fiscal Q2 of 2015 was in its Devices and Consumer segment, the same as the main story in the company's previous quarter: Devices and Consumer revenue grew 8 percent to $12.9 billion for the quarter. Surface Pro 3 sales and those of its accessories rose 24 percent to $1.1 billion. Search advertising was another big grower, up 23 percent in the quarter.

Over the previous four quarters, Microsoft has posted an average positive earnings beat of 7.8 percent, and this success continues on into the company's Q2, even after taking the restructuring charge. CEO Satya Nadella has managed to oversee a nicely prosperous time period for Microsoft, at least thus far at the helm of the company.

Commercial cloud revenue gained 114 percent, resting largely on Office 365 sales, as well as Azure and Dynamic CRM contributions. Its average annual run rate is $5.5 billion.

Analysts had been mixed in their expectations for Microsoft overall for the quarter and for fiscal 2015, helping the company earn a Zacks Rank #3 (Hold). These views stemmed partly from questions arising about Microsoft allowing for free upgrades to Windows 10.

In after-hours trading, Microsoft shares are down roughly 3 percent. The company's conference call is supplying the forecast and outlook for Q3 and beyond. Not including after-market trading, MSFT shares have gained nearly 28 percent year over year.