Microsoft Corporation (NASDAQ:MSFT) topped market expectations as it reported 11% growth in first quarter revenue to $50.1 billion versus estimates of $49.61 billion, together with a 6% rise in operating income to $21.5 billion. Net income fell 14% to $17.6 billion and diluted EPS declined 13% to $2.35 but this was still above Street forecasts of $2.30.