LIVE BLOG: Microsoft Earnings Call

6:00: Question: Overall consumer revenue seems about flat while business revenues seem to be up more than 10%. Is that right? Klein doesn't really answer, except to say that Kinect has momentum and that Office consumer revenue was up 26%.

5:48: Server & Tools in line with hardware growth. Business Division revenue is split into two. Annuity revenue (from multiyear agreements) should be up close to 10% year to year as the unearned revenue from multiyear license deals begins to be recognized.

5:47: Now Peter Klein (CFO) is getting on to talk about expectations. They expect business PC growth to outpace consumer PC growth--that's good as it raises the average price per sale from last year.

5:43: Now he's talking about the other businesses in the Business Division. Exchange and SharePoint are each billion-dollar businesses, and both grew more than 10%. With Office 365, Microsoft will "sell to more people and increase customer satisfaction."

5:42. Office 2010 unit sales are 27% higher than Office 2007 over the same time period. Consumer revenue was particularly strong, up 26%. Business was also up 11%--that's better than the last quarter's year-to-year growth. Multiyear licensing was up 5% from last year.

5:38. PC unit sales were up between 9 and 11%, business PC sales up around 15%. Koefoed claims they've not seen a shift away from mobile PCs due to tablets. (That is: iPad? What iPad?)

5:33: CFO Peter Klein is giving some highlights. His main point: it's not just about Office and desktop apps. Revenue from SharePoint (document sharing and intranet), Lync (IM and VoIP), Dynamics (accounting) and other Business Division server products all grew more than 10% during the qauarter.

5:27 ET: Quiet and slightly mournful acoustic guitar for the hold music. Where's the joy? (The SoundCloud app on my iPhone tells me it's "Ice Cream" by Jake Shimabukuro.)