Microsoft Corporation (MSFT) Earnings Call Summary — Q2 FY26
Microsoft makes Windows and Office, runs the Azure cloud, and owns LinkedIn, Xbox and a big stake in AI (Copilot, OpenAI partnership).
Microsoft Corporation (MSFT) reported Q2 FY26 results on July 29, 2026. Earnings per share came in at $4.81 against a $4.24 consensus, so the company beat on the bottom line. Revenue of $90.01B landed above the $87.62B estimate. MSFT has beaten consensus EPS in 8 of its last 8 reported quarters. Highlights from management's remarks on the call are below.
Key highlights from the call
Operator: “Greetings, and welcome to the Microsoft Corporation Fiscal Year 2026 Second Quarter Earnings Conference Call.”
Chairman & Chief Executive Officer: “The Microsoft Cloud surpassed $50 billion in revenue for the first time, up 26% year over year, reflecting the strength of our platform and accelerating demand.”
Chief Financial Officer: “With growing demand for our offerings and focused execution by our sales teams, we again exceeded expectations across revenue, operating income, and earnings per share while investing to fuel long-term growth.”
Analyst, Morgan Stanley: “I'm looking at a Microsoft Corporation print where earnings is growing 24% year on year, which is a spectacular result.”
Chief Financial Officer: “I think the first thing is you asked a very direct correlation that many investors are doing, which is between the CapEx spend and seeing an Azure revenue number.”
What moved the stock
Highlights from MSFT's Jul 29 report: EPS of $4.81 — a beat vs the $4.24 estimate (+13%); revenue of $90.01B — a beat vs the $87.62B consensus (+3%). Focus now shifts to Azure growth and AI capex payoff.