마이크로소프트, Q4 Azure 분기 매출 1000억 달러 초과 달성…AI 서비스 및 인프라가 실적 상회 및 지속적 모멘텀 주도

Microsoft’s strategic push into artificial intelligence is yielding stronger returns, as evidenced by sharp growth in cloud revenue and a rapidly expanding base of paid AI users in its latest quarterly report. For the April–June quarter, the technology giant posted revenue of $90 billion, or $4.81 per share, marking an 18% year-over-year increase. These figures surpassed Wall Street expectations; analysts surveyed by FactSet Research had forecast earnings of $4.24 per share on revenue of $87.62 billion. The company’s cloud division remained the primary growth engine, with Microsoft Cloud revenue reaching $59.3 billion, up 27% year-over-year.

Revenue from Azure and other cloud services surged 43%, underscoring sustained demand for Microsoft’s cloud infrastructure, AI applications, and related services. For the full fiscal year ending in June, Microsoft recorded total revenue of $331.8 billion. Profitability also accelerated, with net income climbing 31% to $35.8 billion on a GAAP basis, while diluted earnings per share rose 32% to $4.81.

Microsoft CEO Satya Nadella highlighted the accelerating momentum in the company’s cloud and AI divisions, pointing to several key milestones achieved during the period. “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,” Nadella said in a Wednesday statement.

The concurrent expansion of Azure and Copilot indicates Microsoft is successfully integrating foundational AI infrastructure with AI-driven workplace tools, according to Michael J. Wolf, founder and CEO of Activate Consulting. The company is “winning on both fronts,” Wolf noted, adding that Microsoft is “supplying the cloud infrastructure for enterprise AI while monetizing the AI tools embedded in the products workers use every day.”

These results arrive amid heightened investor scrutiny over whether Microsoft’s substantial AI capital expenditures will translate into sustainable returns. Azure and Copilot, the company’s flagship AI assistant, sit at the center of these expectations as industry-wide concerns over escalating AI spending intensify. During an investor call, Chief Financial Officer Amy Hood stated that Microsoft’s capital expenditure and investment outlook for calendar year 2026 remain unchanged. While an accounting adjustment will align reported guidance closer to approximately $175 billion, Hood emphasized that underlying expectations are “unchanged.” This stance contrasts with competitors who have continued to raise spending forecasts. Earlier this year, Hood indicated Microsoft anticipated $190 billion in 2026 capital expenditures, including roughly $25 billion attributable to higher component pricing. Capital expenditure for the latest quarter totaled $41 billion.

Bryan Hayes, an investment strategist at Zacks Investment Research, observed in a statement that “for the first time in three quarters, the market appears willing to grant that the spending is buying something real.” Microsoft management reiterated its optimism regarding the long-term payoff from these outlays. “We remain very confident in the long-term return on these investments, given these strong demand signals, the increasing product usage we’ve seen and the efficiencies that we’re driving across the platform,” said Danielle Criste, Microsoft’s director of investor relations, in an interview. Following the earnings release, Microsoft shares climbed approximately 9% to $426.03 in after-hours trading.