Microsoft has obtained a profit of 97.983 billion dollars (about 91 billion euros at the current exchange rate) in the first nine months of its fiscal year, which represents a 31% increase. The revenues of the company based in Redmond (Washington) reached 241.832 billion dollars, an increase of 17.8%.
The accounts come on a key day for the markets, in which Alphabet, Amazon, and Meta also present results. The four companies concentrate a large part of the value of the S&P 500 and are decisive for measuring the sustainability of the rally stock market driven by artificial intelligence that has boosted the markets in recent weeks.
In this context, the market focus is on the evolution of the cloud business and the return on strong investments in AI infrastructure. Thus, the Intelligent Cloud segment — which includes Azure — generated 98.485 billion, 29% more than in the same period of 2026. Analysts now expect new signals on whether this growth can be maintained without a disproportionate increase in spending. Just in the quarter, this division grew by 30%, with Azure advancing 40%, confirming the acceleration of the business linked to the demand for artificial intelligence. The entire cloud business is thus consolidated as the company’s main driver. Microsoft also indicated that its AI business has exceeded an annual revenue pace of 37 billion dollars, more than double that of a year earlier.
Earnings per share were 13.14 dollars in the accumulated nine months, compared to 9.99 dollars in the same period of the previous year.
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CEO Satya Nadella stated that the company is focused on “delivering cloud and artificial intelligence infrastructures and solutions that enable companies to maximize their results,” in what he defined as the new era of agent-based computing.
By divisions, the Productivity and Business Processes area — which includes Office and LinkedIn — earned 102.149 billion, compared to 87.698 billion the previous year (+16%), while More Personal Computing — which includes Windows and Xbox — reached 41.198 billion, practically unchanged year-on-year.
Beyond the figures, the market scrutinizes the balance between investment and profitability in artificial intelligence. The big tech companies have increased capital expenditure to develop infrastructures, which has boosted the entire semiconductor ecosystem, but has also raised doubts among investors about the timeline for returns.
Read more Meta plunges in the futures market after raising its AI spending forecast to $145 billion
Microsoft shares fall 1.12% in after-hours trading.
