This brief reports what Microsoft's 8-K earnings release, filed 2026-04-29, states, and nothing else. Every item below is a sentence the filing contains, quoted exactly and verified character-for-character against the document fetched from EDGAR. No inference is drawn and no claim is made about what any figure means.
The figures
| Metric | Value | Period |
|---|---|---|
| Microsoft Cloud revenue | 29% | Three Months Ended March 31, 2026 |
| Commercial remaining performance obligation | 99% | Three Months Ended March 31, 2026 |
| Microsoft 365 Commercial cloud revenue | 19% | Three Months Ended March 31, 2026 |
| Microsoft 365 Consumer cloud revenue | 33% | Three Months Ended March 31, 2026 |
| LinkedIn revenue | 12% | Three Months Ended March 31, 2026 |
| Dynamics 365 revenue | 22% | Three Months Ended March 31, 2026 |
| Azure and other cloud services revenue | 40% | Three Months Ended March 31, 2026 |
| Windows OEM and Devices revenue | (2)% | Three Months Ended March 31, 2026 |
| Xbox content and services revenue | (5)% | Three Months Ended March 31, 2026 |
| Search advertising revenue excluding traffic acquisition costs | 12% | Three Months Ended March 31, 2026 |
| Our AI business | $37 billion | annual revenue run rate |
| Microsoft Cloud revenue | 29% | — |
| Microsoft Cloud revenue | 25% | — |
| Commercial remaining performance obligation | 99% | — |
| Microsoft 365 Commercial cloud revenue | 19% | — |
| Microsoft 365 Commercial cloud revenue | 15% | — |
| Microsoft 365 Consumer cloud revenue | 33% | — |
| Microsoft 365 Consumer cloud revenue | 29% | — |
| LinkedIn revenue | 12% | — |
| LinkedIn revenue | 9% | — |
| Dynamics 365 revenue | 22% | — |
| Dynamics 365 revenue | 17% | — |
| Azure and other cloud services revenue | 40% | — |
| Azure and other cloud services revenue | 39% | — |
| Windows OEM and Devices revenue | 2% | — |
| Windows OEM and Devices revenue | 3% | — |
| Xbox content and services revenue | 5% | — |
| Xbox content and services revenue | 7% | — |
| Search advertising revenue excluding traffic acquisition costs | 12% | — |
| Search advertising revenue excluding traffic acquisition costs | 9% | — |
| Net Income | 23% | — |
| Net Income | 20% | — |
| Net Income | 20% | — |
| Net Income | 18% | — |
| Diluted Earnings per Share | 23% | — |
| Diluted Earnings per Share | 21% | — |
| Diluted Earnings per Share | 21% | — |
| Diluted Earnings per Share | 18% | — |
| Net losses from investments in OpenAI | $14 million | third quarter of fiscal year 2026 |
| Net losses from investments in OpenAI | $583 million | third quarter of fiscal year 2025 |
| Net losses from investments in OpenAI | $0.08 | third quarter of fiscal year 2025 |
Every figure above is quoted from the filing; the sentence it was read from appears under its beat below.
The evidence, by beat
ARR / NRR / NDR growth or dilution
Constant CurrencyMicrosoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars using the average exchange rates from the comparative period rather than the actual exchange rates in effect during the respective periods.
All growth comparisons relate to the corresponding period in the last fiscal year.
Microsoft Cloud revenue 29% (4)% 25%
Qualified elsewhere in the filing:
Selected Product and Service Information Constant Currency Reconciliation Three Months Ended March 31, 2026 Percentage Change Y/Y (GAAP) Constant Currency Impact Percentage Change Y/Y Constant Currency
Commercial remaining performance obligation 99% 0% 99%
Qualified elsewhere in the filing:
Selected Product and Service Information Constant Currency Reconciliation Three Months Ended March 31, 2026 Percentage Change Y/Y (GAAP) Constant Currency Impact Percentage Change Y/Y Constant Currency
Microsoft 365 Commercial cloud revenue 19% (4)% 15%
Qualified elsewhere in the filing:
Selected Product and Service Information Constant Currency Reconciliation Three Months Ended March 31, 2026 Percentage Change Y/Y (GAAP) Constant Currency Impact Percentage Change Y/Y Constant Currency
Microsoft 365 Consumer cloud revenue 33% (4)% 29%
Qualified elsewhere in the filing:
Selected Product and Service Information Constant Currency Reconciliation Three Months Ended March 31, 2026 Percentage Change Y/Y (GAAP) Constant Currency Impact Percentage Change Y/Y Constant Currency
LinkedIn revenue 12% (3)% 9%
Qualified elsewhere in the filing:
Selected Product and Service Information Constant Currency Reconciliation Three Months Ended March 31, 2026 Percentage Change Y/Y (GAAP) Constant Currency Impact Percentage Change Y/Y Constant Currency
Dynamics 365 revenue 22% (5)% 17%
Qualified elsewhere in the filing:
Selected Product and Service Information Constant Currency Reconciliation Three Months Ended March 31, 2026 Percentage Change Y/Y (GAAP) Constant Currency Impact Percentage Change Y/Y Constant Currency
Azure and other cloud services revenue 40% (1)% 39%
Qualified elsewhere in the filing:
Selected Product and Service Information Constant Currency Reconciliation Three Months Ended March 31, 2026 Percentage Change Y/Y (GAAP) Constant Currency Impact Percentage Change Y/Y Constant Currency
Windows OEM and Devices revenue (2)% (1)% (3)%
Qualified elsewhere in the filing:
Selected Product and Service Information Constant Currency Reconciliation Three Months Ended March 31, 2026 Percentage Change Y/Y (GAAP) Constant Currency Impact Percentage Change Y/Y Constant Currency
Xbox content and services revenue (5)% (2)% (7)%
Qualified elsewhere in the filing:
Selected Product and Service Information Constant Currency Reconciliation Three Months Ended March 31, 2026 Percentage Change Y/Y (GAAP) Constant Currency Impact Percentage Change Y/Y Constant Currency
Search advertising revenue excluding traffic acquisition costs 12% (3)% 9%
Qualified elsewhere in the filing:
Selected Product and Service Information Constant Currency Reconciliation Three Months Ended March 31, 2026 Percentage Change Y/Y (GAAP) Constant Currency Impact Percentage Change Y/Y Constant Currency
competitive displacement / win-loss / platform consolidation
The filing names this beat, but no statement in it verified as a verbatim quote, so none is reported here.
guidance raised/cut, outlook change
Our AI business surpassed an annual revenue run rate of $37 billion, up 123% year-over-year.
Microsoft Cloud revenue was $54.5 billion and increased 29% (up 25% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Microsoft Cloud revenue was $54.5 billion and increased 29% (up 25% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
commercial remaining performance obligation increased 99% to $627 billion.
Microsoft 365 Commercial cloud revenue increased 19% (up 15% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Microsoft 365 Commercial cloud revenue increased 19% (up 15% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Microsoft 365 Consumer cloud revenue increased 33% (up 29% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Microsoft 365 Consumer cloud revenue increased 33% (up 29% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
LinkedIn revenue increased 12% (up 9% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
LinkedIn revenue increased 12% (up 9% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Dynamics 365 revenue increased 22% (up 17% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Dynamics 365 revenue increased 22% (up 17% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Azure and other cloud services revenue increased 40% (up 39% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Azure and other cloud services revenue increased 40% (up 39% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Windows OEM and Devices revenue decreased 2% (down 3% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Windows OEM and Devices revenue decreased 2% (down 3% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Xbox content and services revenue decreased 5% (down 7% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Xbox content and services revenue decreased 5% (down 7% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Search advertising revenue excluding traffic acquisition costs increased 12% (up 9% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Search advertising revenue excluding traffic acquisition costs increased 12% (up 9% in constant currency)
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Net Income $31,778 $14 $31,792 $25,824 $583 $26,407 23% 20% 20% 18%
Net Income $31,778 $14 $31,792 $25,824 $583 $26,407 23% 20% 20% 18%
Qualified elsewhere in the filing:
Non-GAAP results exclude the impact from investments in OpenAI, explained in the Non-GAAP Definition section below
Net Income $31,778 $14 $31,792 $25,824 $583 $26,407 23% 20% 20% 18%
Qualified elsewhere in the filing:
Non-GAAP results exclude the impact from investments in OpenAI, explained in the Non-GAAP Definition section below
Net Income $31,778 $14 $31,792 $25,824 $583 $26,407 23% 20% 20% 18%
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Diluted Earnings per Share $4.27 $0.00 $4.27 $3.46 $0.08 $3.54 23% 21% 21% 18%
Diluted Earnings per Share $4.27 $0.00 $4.27 $3.46 $0.08 $3.54 23% 21% 21% 18%
Qualified elsewhere in the filing:
Non-GAAP results exclude the impact from investments in OpenAI, explained in the Non-GAAP Definition section below
Diluted Earnings per Share $4.27 $0.00 $4.27 $3.46 $0.08 $3.54 23% 21% 21% 18%
Qualified elsewhere in the filing:
Non-GAAP results exclude the impact from investments in OpenAI, explained in the Non-GAAP Definition section below
Diluted Earnings per Share $4.27 $0.00 $4.27 $3.46 $0.08 $3.54 23% 21% 21% 18%
Qualified elsewhere in the filing:
Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
In the third quarter of fiscal year 2026, net losses from investments in OpenAI resulted in a decrease in net income of $14 million and had minimal impact on earnings per share.
In the third quarter of fiscal year 2025, net income and diluted earnings per share were impacted by net losses from investments in OpenAI, which resulted in a decrease in net income and diluted earnings per share of $583 million and $0.08, respectively.
In the third quarter of fiscal year 2025, net income and diluted earnings per share were impacted by net losses from investments in OpenAI, which resulted in a decrease in net income and diluted earnings per share of $583 million and $0.08, respectively.
Verification ledger
- 44 statements proposed by the extractor
- 44 verified verbatim against the fetched filing (100%)
- 0 discarded — not quotable character-for-character
The verbatim check contains no model: the extractor proposes a statement, and a deterministic substring match against the fetched text decides whether it is admissible. A proposal that does not verify is dropped.
This brief publishes no inference and no synthesis. The publication's inference layer must clear a measured second-lab confirmation threshold before it may appear; it has not, so it is absent by rule rather than by omission.