Overview
- Shares have fallen more than 10% over the past three months as investors reassess near‑term margin risks.
- Azure and other cloud services revenue rose 40% year over year in fiscal Q1, and management guided roughly 37% growth in constant currency for fiscal Q2.
- Microsoft’s commercial remaining performance obligations increased over 50% to nearly $400 billion, reflecting large, contract‑driven cloud commitments.
- Management said demand exceeded supply across workloads and expects capacity constraints to persist through the fiscal year.
- Capital expenditures totaled $34.9 billion last quarter, with spending set to rise sequentially as the company expands data‑center capacity.