Today Microsoft released their earnings from the first quarter of fiscal year 2016. Revenue fell 12% year-over-year to $20.4 billion for the quarter, driven by a 17% decline in revenue from their More Personal Computing segment. Operating income for the quarter was $5.8 billion, with gross margin at 64.6%. Despite the revenue decline, net income rose 2% to $4.6 billion, with earnings per share beating expectations at $0.57.