Yesterday, Microsoft announced its Q3 2010 earnings, and we’re pleased to report things went well for the Redmond, WA company. Riding the success of Windows 7, Microsoft beat analysts expectations with $14.5 billion in revenue and a net income of $4.01 billion or $0.45 per share. As previously mentioned, Windows 7 was a smash hit helping Windows revenue climb 28%. Some 10% of PCs world-wide are now running Windows 7. Sales of the Xbox 360 helped the Entertainment Division’s revenue increase to $165 million. The one major downfall for Microsoft was Bing, as search engine lost the company a hefty $713 million.

Welcome back, Microsoft. You had us all quite scared for a while.