Microsoft Corporation has released its fourth quarter financial report, revealing that the company has broken quarterly and yearly revenue records, thanks in no small part to Windows 7 and Microsoft Office 2010.

In the most recent quarter, Microsoft generated $16.04 billion in revenue, a 22% jump from last year’s $13.10 billion. This is a Q4 record for the technology titan. Income also rose from $3.99 billion to $5.93 billion, an eye-popping increase of 49%.

The company generated $62.48 billion in its 2009-2010 fiscal year, a 7% increase from the previous year. This is yet another financial record for the Redmond, Washington-based company.

The primary drivers of Microsoft’s revenue growth were its Windows, Server and Business Divisions. Windows 7 drove a 23% increase in revenue for the division this year, resulting in $18.49 billion in revenue and $12.98 billion in income. Its second biggest income driver was its Business Division, specifically Microsoft Office 2010. The division generated $18.64 billion in revenue and earned $11.78 in income.

Not every division was a winner, though. While Microsoft’s Online Services Division increased revenue by 13% to $565 million, it lost more money than ever: $696 million last quarter to be exact. The company’s Entertainment and Devices Division, which houses both the Xbox and Zune divisions, lost $172 million in Q4, although it generated $1.6 billion in revenue.

Windows 7 and Office 2010 Earned Record Revenues to Microsoft