Microsoft ( MSFT -1.55%) posted results for the fiscal first quarter of 2027 (the three months ending Sept. 30, 2026) on Wednesday, Oct. 28. Revenue climbed 19% year over year to $92.3 billion, and earnings per share grew 18% on a non-GAAP (adjusted) basis.

Microsoft Azure earnings for Q1 2027: Azure grew 48% to $33.2 billion, the first public dollar disclosure, while free cash flow of $18.6 billion beat analyst estimates by $10 billion. GPU delivery timing and efficiency gains explain the FCF beat;

Azure is accelerating, Copilot adoption is surging, and Microsoft's commercial backlog sits at $677 billion, yet the stock trails the S&P 500 by a wide margin. Something has to give, and the answer hinges on whether a $170 billion spending bet pays off before investors lose patience.

Microsoft has never disclosed Azure's quarterly revenue in dollars. But for the first time, we can see just how close it is getting to besting the biggest competitor in the market, AWS.

Who is profiting from the AI boom?”While news stories focus on new AI services, the ones reliably receiving money behind the scenes are the cloud companies that rent out the computers used to run AI.On October 28,

There was a lot to digest from Wednesday’s earnings reports from Microsoft and Google, long the No. 2 and 3 players in cloud computing, respectively. But let’s start with the most interesting takeaway: Google’s cloud unit revenues are now within spitting distance of Microsoft’s Azure cloud

Various factors indicate that Microsoft is in a better financial position than its cloud rivals, analysts say.

Microsoft Azure Q1 FY2027 earnings showed 48% year-over-year revenue growth to $33.2 billion -- the platform's fastest rate in at least two years -- while capital expenditure landed $6 billion below analyst estimates and the company introduced its 'Agents and Infra' segment to declare AI agents its primary cloud revenue driver for years ahead.