Q4 26 EPS
$4.74
BEAT +11.80%
Est. $4.24
Q4 26 Revenue
$90.01B
BEAT +2.71%
Est. $87.63B
vs S&P Since Q4 26
+20.6%
BEATING MARKET
MSFT +25.3% vs S&P +4.7%
Full Year 2026 Results
FY 26 EPS
$17.28
BEAT +2.99%
Est. $16.78
FY 26 Revenue
$331.84B
BEAT +0.69%
Est. $329.55B
Market Reaction
Did MSFT Beat Earnings? Q4 2026 Results
Microsoft closed fiscal Q4 2026 with a decisive beat on both top and bottom lines, extending its consecutive EPS beat streak to five quarters and reinforcing its standing as one of the most consistent large-cap earners in the technology sector. The c… Read more Microsoft closed fiscal Q4 2026 with a decisive beat on both top and bottom lines, extending its consecutive EPS beat streak to five quarters and reinforcing its standing as one of the most consistent large-cap earners in the technology sector. The company posted revenue of $90.01 billion, up 17.8% year-over-year and ahead of the $87.63 billion consensus by 2.71%, while non-GAAP diluted EPS of $4.74 cleared the $4.24 estimate by 11.81%, aided in part by a $3.20 billion gain from its investment in Anthropic and lower-than-expected Voluntary Retirement Program costs. The primary engine of outperformance was the Intelligent Cloud segment, which generated $39.31 billion in revenue, up 32%, as Azure grew 43% and crossed $100.00 billion in full-year revenue. Microsoft Cloud revenue reached $59.30 billion, up 27%, while commercial remaining performance obligations surged 84% to $678.00 billion, a figure that points to substantial contracted revenue on the horizon. Microsoft 365 Copilot passed 30 million paid seats during the quarter, underscoring accelerating enterprise AI adoption. Full-year capital expenditures reached $115.95 billion as the company continues building out cloud and AI infrastructure at scale; specific numerical guidance for the coming quarter was reserved for the earnings conference call.
Key Takeaways
- • Azure and other cloud services revenue increased 43% year-over-year
- • Microsoft Cloud revenue grew 27% to $59.3 billion
- • Commercial remaining performance obligation increased 84% to $678 billion
- • Microsoft 365 Consumer cloud revenue increased 24%
- • Microsoft 365 Commercial cloud revenue increased 16% when adjusted for prior year comparable
- • Microsoft 365 Copilot reached over 30 million paid seats
- • $3.2 billion gain from investment in Anthropic
MSFT Forward Guidance & Outlook
Microsoft indicated that forward-looking guidance would be provided during the earnings conference call and webcast on July 29, 2026. No specific numerical guidance was included in the press release.
MSFT YoY Financials
Q4 2026 vs Q4 2025, source: SEC Filings
MSFT Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are advancing the frontier on the cost-to-outcome curve, ensuring every customer can turn tokens into business results. This year, Azure revenue surpassed $100 billion for the first time, and Microsoft 365 Copilot reached over 30 million paid seats, reflecting the confidence customers are placing in us to power their AI transformation.”
— Satya Nadella, Q4 2026 Earnings Press Release
MSFT Earnings Trends
MSFT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MSFT EPS Trend
Earnings per share: estimate vs actual
MSFT Revenue Trend
Quarterly revenue: estimate vs actual
MSFT Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY | $4.24 | $4.74 | +11.80% | $90.01B | +2.71% |
| FY Full Year | $16.78 | $17.28 | +2.99% | $331.84B | +0.69% |
| Q3 26 BEAT | $4.09 | $4.27 | +4.40% | $82.89B | +1.79% |
| Q2 26 BEAT | $3.92 | $4.14 | +5.61% | $81.27B | +1.24% |
| Q1 26 BEAT | $3.66 | $4.13 | +12.84% | $77.67B | +3.03% |
| Q4 25 BEAT FY | $3.38 | $3.65 | +8.01% | $76.44B | +3.54% |
| FY Full Year | $13.41 | $13.64 | +1.73% | $281.72B | +0.95% |
| Q3 25 BEAT | $3.22 | $3.46 | +7.45% | $70.07B | +2.37% |