In announcing its second-quarter financial results, Microsoft said revenue from Dynamics increased 1% from a year earlier. This is a turnaround from the previous quarter, when Microsoft reported that Dynamics revenues were off 6% from the year-earlier period.

For the first half of the year ended December 30, Microsoft said "a 2% decrease in Microsoft Dynamics revenue (was) offset in part by growth in multi-year volume licensing agreement revenue. The growth in multi-year volume licensing agreement revenue primarily reflects recognition of deferred revenue from previously signed agreements." 

In its previous quarterly report, Microsoft pointed to strong sales from Dynamics CRM as a big positive. But in the current report,there's no mention of Dynamics CRM. 

Overall, Microsoft showed a sharp boost in second-quarter revenue, to $19 billion from $16.6 billion in the previous year's second quarter.

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