Microsoft (MSFT) looks to be getting things back on track, with CEO Satya Nadella cutting some of the fat from the company and bringing more emphasis on the cloud, mobile and other new markets.

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In the company's first quarter earnings call earlier today, Microsoft announced its commercial revenue from cloud business grew 128 percent from the same period last year, a massive improvement showing the growth of new services like OneDrive and Office 365.

Microsoft's corporate cloud business grew 10 percent, with $12.28 billion in total revenue. Azure has become one of the best cloud services for corporate buyers, offering traditional features as well for older companies - something Amazon Web Services and IBM cloud does not offer.

The smartphone business is still lackluster compared to Android and iOS, but Microsoft is confident they are on the right track. The company has had a 25 percent increase in sales, thanks to the acquisition of Nokia's mobile division.

Surface has had a surprising increase in sales. After the failure of the original Surface, most thought Microsoft would slowly fizzle out their tablet efforts, but the Surface Pro 3 has managed to more than double revenue, from $400 million last year to $900 million this year.

Microsoft is still trying to move into new markets, with a big emphasis on cloud computing, in order to get past the decline in PC sales. Windows 8 continues to be a sucker for Microsoft, with just over 20 percent of users on Windows 8 and Windows 8.1.

Windows 10 looks to sort these issues out with a new PC experience, meshing the old Windows 7 with some of the best parts of Windows 8. Reports say Windows 10 will be available for free and will also take over Windows Phone, making this Microsoft's "One" OS for all devices.

Microsoft's stock was up 1.81 percent in morning trading to $45.78.

TagsCloud, Surface, Windows 8, Windows Phone, Microsoft Q3 earnings