MSFT · 10-K · 2026A · Full report

Revenue Performance and Mix

MICROSOFT CORP · 2026-07-29 · Importance 45 · Surprise 40 · Contradicted

Fiscal 2026 revenue increased 18% to $331.839 billion from $281.724 billion in fiscal 2025, driven primarily by Microsoft Cloud growth. Microsoft Cloud revenue increased 27% to $214.4 billion, while commercial remaining performance obligation increased 84% to $678 billion. Intelligent Cloud revenue increased 30% to $137.791 billion, Productivity and Business Processes revenue increased 16% to $139.996 billion, and More Personal Computing revenue decreased 1% to $54.052 billion. Azure and other cloud services revenue increased 41%, Microsoft 365 Commercial cloud revenue increased 17%, and XBOX content and services revenue decreased 5%.

Key facts

• Microsoft Cloud revenue increased 27% to $214.4 billion in fiscal year 2026. source
• Total consolidated revenue was $331,839 million in fiscal year 2026 compared with $281,724 million in fiscal year 2025, an 18% increase. source
• Net income was $133,749 million in fiscal year 2026 compared with $101,832 million in fiscal year 2025, a 31% increase. source
• Productivity and Business Processes revenue was $139,996 million in fiscal year 2026, up 16% from $120,810 million in fiscal year 2025. source
• More Personal Computing revenue was $54,052 million in fiscal year 2026 compared with $54,649 million in fiscal year 2025, a decrease of 1%. source
• Diluted earnings per share were $17.95 in fiscal year 2026 compared with $13.64 in fiscal year 2025, a 32% increase. source
• Microsoft 365 Consumer cloud revenue increased 28% in fiscal year 2026. source
• Microsoft 365 Commercial cloud revenue increased 17% in fiscal year 2026. source

Impact estimates