Microsoft ended its fiscal year Tuesday, July 21, with results that reflected its focus on cloud and enterprise growth, alongside the painful unwinding of its Nokia deal, according to USA Today.

The Redmond, Wash-based software company reported adjusted earnings per share of 62 cents against revenue of $22.2 billion, which beat Wall Street estimates of 56 cents and $22.06 billion, according to analysts polled by Thomson Financial Network.

Microsoft's commercial revenue grew 88%, driven by Office 365, Azure and Dynamics CRM Online, providing $10 billion of the total. Also contributing was devices and consumer licensing revenue of $3.2 billion, with Xbox and Surface hardware bringing in nearly $2 billion.

But notable drags on the quarter included the impact of the global slowdown of PC sales (down 11% year to year, according to IDC) as well as the company's $7.6 billion writedown of Finnish cell phone maker Nokia, which the company purchased for $9 billion two years ago.

Reflecting the Nokia writedown, net income swung to a $3.2 billion loss. Quarterly revenue fell 5% over the year-ago quarter.