"Commercial cloud revenue grew 88% (up 96% in constant currency) driven by Office 365, Azure and Dynamics CRM Online and is now on an annualized revenue run rate of over $8 billion"

This is really interesting. This recurring revenue should be growing every month. It's still only > 10% of total revenue, but I think MSFT SaaS business will be really big within a year or two.

I'm considering buying some stock.