Microsoft Shares Rise 2.9% After Earnings Beat, Azure Grows 48%

Microsoft shares added 2.9% in Wednesday’s after-hours session, reaching $546.30 by 8 p.m. ET (0000 UTC Thursday), after quarterly revenue and adjusted earnings exceeded analyst estimates.

Microsoft reported $92.3 billion in revenue for the fiscal first quarter ended Sept. 30, up 19% from a year earlier. Adjusted earnings were $4.89 per share, above the $4.73 consensus from 35 analysts; revenue also exceeded the $90.69 billion consensus. GAAP earnings were $4.92 per diluted share. Microsoft’s non-GAAP measure excludes the impact of its OpenAI investments.

Azure, Microsoft’s cloud computing business, generated $33.17 billion in revenue, above the $32.84 billion estimate, as revenue grew 48%. Microsoft Cloud revenue rose 30% to $63.9 billion, or 31% in constant currency.

Microsoft Chairman and CEO Satya Nadella said the company was delivering “greater capability, choice, control, and cost efficiency” across its stack.

The results come as investors weigh whether major technology companies’ AI infrastructure spending is translating into revenue growth.