Microsoft Q2 2026 revenue was $90.0 billion and increased 18% (up 17% in constant currency) Operating income was $40.6 billion and increased 18%. Net income was $35.8 billion and increased 31% on a GAAP basis, and was $35.3 billion and increased 22% on a non-GAAP basis. Diluted earnings per share was $4.81 and increased 32% on a GAAP basis, and was $4.74 and increased 23% on a non-GAAP basis.

Azure cloud unit was up 43% versus expectations of 40%.

• Revenue $90.0B vs Est. $87.6B
• EPS $4.74 vs Est. $4.22
• Azure Revenue 43% vs. Est. 40%
• Operating Income $40.6B vs Est. $39.1B
• Commercial RPO: $678B (+84% YoY)

Azure revenue surpassed $100B for the first time.

Financials:
🔹 Operating Income: $40.60B (Est. $39.02B) 🟢
🔹 CapEx Including Leases: $41B (Est. $42.05B) 🟢
🔹 CapEx: $35.80B (Est. $35.22B) 🔴

Other Metrics:
🔹 Azure Revenue: Surpassed $100B
🔹 Microsoft 365 Consumer Cloud Revenue: +24%
🔹 Microsoft 365 Copilot: Over 30M paid seats
🔹 Anthropic Investment Gain: $3.2B