Microsoft on Thursday beat Wall Street expectations as Xbox consoles, Surface tablets and services in the Internet "cloud" helped power record quarterly revenue. The US-based technology titan reported net income of $6.56 billion on revenue that hit a record high of $24.52 billion in the quarter that ended December 31. "Our Commercial segment continues to outpace the overall market, and our Devices and Consumer segment had a great holiday quarter," said outgoing chief executive Steve Ballmer. Microsoft shares climbed more than four percent to $37.62 in after-market trades on the Nasdaq following release of the earnings figures.