This past Wednesday Apple reported a very solid quarter due to growing iPhone and iPod sales that provided enough revenue to diminish its waning personal computer sales. Unfortunately it looks like Microsoft had no such cushion. For the first time in the company’s storied 23-year history, Microsoft reported a year over year slide as Q3 FY09 revenue declined 6 percent to $13.65 billion. Net income slid as well, down a disheartening 32 percent YoY to $2.98 billion. While enterprise revenue remained stable in the quarter, the company cited “weakness in the global PC and Server markets” in rationalizing its poor Q3 performance. So when might things pick up in Redmond? Microsoft admittedly has a lot riding on Windows 7, beta versions of which have been received with open arms by developers and end users alike. With resoundingly positive feedback from beta testers so far, Microsoft could be able to revive stagnant sales on the back of its new OS. According to the company, Windows 7 is still on track for a release in FY10.

[Via NYT]