Microsoft’s Q1 2011 earnings marked the first time in 15 years that Apple’s earnings have been higher.

Apple reported a record revenue of $20.34 billion earlier this month whilst Microsoft recorded revenue of $16.20 billion for the same quarter. Although revenue is only one of many ways to measure a company’s success, it’s a second major goal for Apple after passing Microsoft’s market cap earlier this year. MacRumors notes that Microsoft still generates higher profit margins due to its focus solely on software.

Microsoft held an earnings call this evening where the company revealed some interesting facts. Microsoft sold 2.8 million Xbox consoles in the quarter and Halo Reach made $350 million in revenue alone. Office 2010 sales are 27% higher than Office 2007 for the same time period and consumer revenue is up 26%. Bill Koefoed, Microsoft’s General Manager of investor relations claimed the company has not seen a shift away from mobile PCs due to tablets.

Microsoft’s future quarter looks to be a solid one. The launch of Windows Phone 7 and Kinect will likely add significantly to the Revenue in the next quarter. We’ll have to wait and see whether the revenue trend reverses back into Microsoft’s favour.