Microsoft

MSFT Q3 2026 Earnings

Reported Apr 29, 2026 at 4:03 PM ET · SEC Source

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.

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MSFT YoY Financials

Q3 2026 vs Q3 2025, source: SEC Filings

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MSFT Revenue by Segment

With YoY comparisons, source: SEC Filings

Q3 25 Q3 26

“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