Q3 26 EPS
$4.27
Q3 26 Revenue
$82.89B
BEAT +1.79%
Est. $81.43B
vs S&P Since Q3 26
-3.4%
TRAILING MARKET
MSFT -3.2% vs S&P +0.3%
Market Reaction
Did MSFT Beat Earnings? Q3 2026 Results
Microsoft delivered a standout fiscal third quarter of 2026, posting earnings per share of $4.27 and beating the $4.07 consensus estimate by 4.90%, marking the fourth consecutive quarter the company has topped Wall Street's EPS expectations. Revenue … Read more Microsoft delivered a standout fiscal third quarter of 2026, posting earnings per share of $4.27 and beating the $4.07 consensus estimate by 4.90%, marking the fourth consecutive quarter the company has topped Wall Street's EPS expectations. Revenue climbed 18.3% year-over-year to $82.89 billion, edging past the $81.43 billion consensus by 1.79%, as the company's Intelligent Cloud segment proved the primary engine of growth, generating $34.68 billion in revenue, up 30%, with Azure and other cloud services expanding 40%. Microsoft's AI business crossed a $37.00 billion annualized revenue run rate, growing 123% year-over-year, underscoring deepening enterprise adoption of the company's platform, a trend evident even beyond its own results as customers across industries accelerate AI integration into core workflows. Commercial remaining performance obligations nearly doubled to $627.00 billion, signaling robust long-term demand. GAAP net income rose 23% to $31.78 billion, and while the company deferred specific forward guidance to its earnings call, the scale of its infrastructure commitment, with capital expenditures reaching $30.88 billion, signals continued aggressive investment ahead.
Key Takeaways
- • Azure and other cloud services revenue grew 40% (39% constant currency)
- • Microsoft Cloud revenue grew 29% to $54.5 billion
- • Microsoft 365 Consumer cloud revenue grew 33%
- • Microsoft 365 Commercial cloud revenue grew 19%
- • Dynamics 365 revenue grew 22%
- • Commercial remaining performance obligation increased 99% to $627 billion
- • AI business annual revenue run rate surpassed $37 billion, up 123% YoY
MSFT Forward Guidance & Outlook
Microsoft stated it will provide forward-looking guidance in connection with the quarterly earnings announcement on its earnings conference call and webcast. No specific numeric guidance was included in the press release.
MSFT YoY Financials
Q3 2026 vs Q3 2025, source: SEC Filings
MSFT Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are focused on delivering cloud and AI infrastructure and solutions that empower every business to eval-max their outcomes in the agentic computing era.”
— Satya Nadella, Q3 2026 Earnings Press Release
MSFT Earnings Trends
MSFT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MSFT EPS Trend
Earnings per share: estimate vs actual
MSFT Revenue Trend
Quarterly revenue: estimate vs actual
MSFT Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 | — | $4.27 | — | $82.89B | +1.79% |
| Q2 26 BEAT | $3.85 | $4.14 | +7.57% | $81.27B | +1.24% |
| Q1 26 BEAT | $3.66 | $4.13 | +12.78% | $77.67B | +3.03% |
| Q4 25 BEAT FY | $3.38 | $3.65 | +7.99% | $76.44B | — |
| FY Full Year | $13.41 | $13.64 | +1.73% | $281.72B | +0.95% |
| Q3 25 BEAT | $3.22 | $3.46 | +7.59% | $70.07B | +2.37% |