Microsoft Corp

MSFT: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Microsoft Earnings: Azure and Capital Expenditures Are Expected to Accelerate

Dan Romanoff

Apr 30, 2026

Microsoft's third-quarter results topped the high end of guidance. Revenue increased 15% year over year in constant currency to $82.9 billion, compared with the high end of guidance of $81.75 billion, while operating margin was 46.3%, compared with the high end of guidance at 46.1%.

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Microsoft Corp

Microsoft Earnings: Azure and Capital Expenditures Are Expected to Accelerate

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