Microsoft just reported their third consecutive quarter of increased income, thwarting analyst predictions.

The company said that sales jumped 22 percent to $16.04 billion, from $13.1 billion during the same period a year ago. Earnings per share came in at 51 cents per share, up from 36 cents per share a year ago.

Meanwhile, Amazon, which everyone expected to do ridiculously well, wound up doing slightly less ridiculously well than expected:

E-commerce powerhouse said Thursday that its second-quarter revenues were up 41 percent from the previous year, jumping to $6.57 billion in revenues at $0.45 earnings per share.

Unfortunately, Wall Street had been hoping for $0.54 per share.

Amazon stocks are down after the announcement. In other analyst news, John Gruber thinks that in their quarterly report, Amazon is trying to position Kindle as software, not hardware.