Microsoft 8-K
PositiveEarningsGuidance deferred to the call
Azure led cloud growth as the AI business more than doubled its annual revenue run rate Y/Y; More Personal Computing slipped.
Filed 2026-04-29 16:03 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q3 FY2026 results, with revenue up 18% Y/Y as Microsoft Cloud revenue grew 29% and Azure and other cloud services revenue grew 40%. Microsoft’s AI business exceeded a $37B annual revenue run rate, up 123% Y/Y; More Personal Computing revenue declined 1%.
Key Figures
| Metric | Q3 FY2026 | Q3 FY2025 | Y/Y |
|---|---|---|---|
| Revenue | $82.9B | $70.1B | 18% |
| Operating income | $38.4B | $32.0B | 20% |
| Net income (GAAP) | $31.8B | $25.8B | 23% |
| Net income (non-GAAP) | $31.8B | $26.4B | 20% |
| Diluted EPS (GAAP) | $4.27 | $3.46 | 23% |
| Diluted EPS (non-GAAP) | $4.27 | $3.54 | 21% |
| Operating cash flow | $46.7B | $37.0B | 26% |
- Microsoft Cloud revenue was $54.5B, up 29% Y/Y; commercial remaining performance obligation rose 99% to $627B. Productivity and Business Processes revenue grew 17%, Intelligent Cloud grew 30%, and More Personal Computing declined 1%.
- Microsoft returned $10.2B to shareholders, while the cash-flow statement lists $4.63B of repurchases and $6.76B of dividends; those component figures do not reconcile to the stated total. Diluted weighted-average shares fell 0.2% to 7.445B from 7.461B.
- Additions to property and equipment were $30.9B vs $16.7B Y/Y. Cash, cash equivalents and short-term investments totaled $78.3B at 3/31/2026; total debt was $40.3B.
Guidance
Guidance to be given on the earnings call.
Investor Takeaways
- The earnings-call outlook will indicate whether Microsoft expects cloud and Azure growth to continue; commercial remaining performance obligation conversion is another measure of demand to watch.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3