Azure is a decent extension to the MS development ecosystem. Xbox and Xbox Live seem to be doing well -- I don't use either. Bing, while not Google, has it's fans.
Where MSFT was late to the game is in their approach to the post-PC era. WinCE/WinMo were "ok" at the time, then the iPhone came along. Win8, Surface, WP8 are all relatively new - do I expect the same success as, say, XP or the like? Not really, but that path is still playing out for them.