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Microsoft (MSFT)
CIK 789019 · fiscal year ends 06/30 · SIC 7372 Services-Prepackaged Software · numbers from SEC XBRL, no AI on this page
✓ A verified AI earnings note is available for MSFT.
Key metrics
| Metric | FY2025 Q2 2024-12-31 | FY2025 Q3 2025-03-31 | FY2025 Q4 2025-06-30 | FY2026 Q1 2025-09-30 | FY2026 Q2 2025-12-31 | FY2026 Q3 2026-03-31 | FY2026 Q4 2026-06-30 | FY2027 Q1 2026-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $69.63B | $70.07B | $76.44Bᵈ | $77.67B | $81.27B | $82.89B | $90.01Bᵈ | $92.28B |
| Gross profit | $47.83B | $48.15B | $52.43Bᵈ | $53.63B | $55.30B | $56.06B | $60.48Bᵈ | $62.56B |
| Operating income | $31.65B | $32.00B | $34.32Bᵈ | $37.96B | $38.27B | $38.40B | $40.60Bᵈ | $45.91B |
| Net income | $24.11B | $25.82B | $27.23Bᵈ | $27.75B | $38.46B | $31.78B | $35.77Bᵈ | $36.63B |
| Diluted EPS | $3.23 | $3.46 | — | $3.72 | $5.16 | $4.27 | — | $4.92 |
| Operating cash flow | $22.29B | $37.04B | $42.65Bᵈ | $45.06B | $35.76B | $46.68B | $55.44Bᵈ | $58.00B |
| Capital expenditures | $15.80B | $16.75B | $17.08Bᵈ | $19.39B | $29.88B | $30.88B | $35.80Bᵈ | $39.37B |
| Free cash flow (OCF − capex) | $6.49Bᵈ | $20.30Bᵈ | $25.57Bᵈ | $25.66Bᵈ | $5.88Bᵈ | $15.80Bᵈ | $19.64Bᵈ | $18.63Bᵈ |
| R&D expense | $7.92B | $8.20B | $8.83Bᵈ | $8.15B | $8.50B | $8.91B | $10.00Bᵈ | $9.05B |
| Sales & marketing expense | $6.44B | $6.21B | $7.29Bᵈ | $5.72B | $6.58B | $6.81B | $7.59Bᵈ | $5.72B |
| Stock-based compensation | $3.09B | $2.98B | $3.07Bᵈ | $2.98B | $3.22B | $3.08B | $3.12Bᵈ | $3.13B |
| Deferred revenue | $48.05B | $47.48B | $67.27B | $61.53B | $54.04B | $53.68B | $75.71B | $69.56B |
| Remaining performance obligations | $304.00B | $321.00B | $375.00B | $398.00B | $631.00B | $633.00B | $684.00B | $683.00B |
ᵈ derived (Q4 = full year − 9-month YTD; cash-flow quarters from year-to-date totals) · ʳ restated: latest filed value shown · ᵖ current portion only. Hover a number for its XBRL concept.
Growth
| Metric | FY2025 Q2 | FY2025 Q3 | FY2025 Q4 | FY2026 Q1 | FY2026 Q2 | FY2026 Q3 | FY2026 Q4 | FY2027 Q1 |
|---|---|---|---|---|---|---|---|---|
| Revenue YOY | +12.3% | +13.3% | +18.1% | +18.4% | +16.7% | +18.3% | +17.7% | +18.8% |
| Revenue QOQ | +6.2% | +0.6% | +9.1% | +1.6% | +4.6% | +2.0% | +8.6% | +2.5% |
| Gross profit YOY | +12.8% | +11.1% | +16.4% | +17.9% | +15.6% | +16.4% | +15.4% | +16.6% |
| Gross profit QOQ | +5.2% | +0.7% | +8.9% | +2.3% | +3.1% | +1.4% | +7.9% | +3.4% |
| Operating income YOY | +17.1% | +16.0% | +22.9% | +24.3% | +20.9% | +20.0% | +18.3% | +21.0% |
| Operating income QOQ | +3.6% | +1.1% | +7.3% | +10.6% | +0.8% | +0.3% | +5.7% | +13.1% |
| Net income YOY | +10.2% | +17.7% | +23.6% | +12.5% | +59.5% | +23.1% | +31.3% | +32.0% |
| Net income QOQ | -2.3% | +7.1% | +5.5% | +1.9% | +38.6% | -17.4% | +12.5% | +2.4% |
| Diluted EPS YOY | +10.2% | +17.7% | — | +12.7% | +59.8% | +23.4% | — | +32.3% |
| Diluted EPS QOQ | -2.1% | +7.1% | — | — | +38.7% | -17.2% | — | — |
| Operating cash flow YOY | +18.2% | +16.1% | +14.7% | +31.8% | +60.4% | +26.0% | +30.0% | +28.7% |
| Operating cash flow QOQ | -34.8% | +66.2% | +15.1% | +5.7% | -20.6% | +30.5% | +18.8% | +4.6% |
| Free cash flow (OCF − capex) YOY | -28.9% | -3.2% | +9.6% | +33.3% | -9.3% | -22.1% | -23.2% | -27.4% |
| Free cash flow (OCF − capex) QOQ | -66.3% | +212.9% | +26.0% | +0.4% | -77.1% | +168.7% | +24.3% | -5.1% |
| Deferred revenue YOY | +4.4% | +5.9% | +11.8% | +10.5% | +12.5% | +13.1% | +12.6% | +13.0% |
| Deferred revenue QOQ | -13.7% | -1.2% | +41.7% | -8.5% | -12.2% | -0.7% | +41.1% | -8.1% |
| Remaining performance obligations YOY | +32.8% | +32.6% | +36.4% | +49.6% | +107.6% | +97.2% | +82.4% | +71.6% |
| Remaining performance obligations QOQ | +14.3% | +5.6% | +16.8% | +6.1% | +58.5% | +0.3% | +8.1% | -0.1% |
Margins
| Margin | FY2025 Q2 | FY2025 Q3 | FY2025 Q4 | FY2026 Q1 | FY2026 Q2 | FY2026 Q3 | FY2026 Q4 | FY2027 Q1 |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 68.7% | 68.7% | 68.6% | 69.0% | 68.0% | 67.6% | 67.2% | 67.8% |
| Operating margin | 45.5% | 45.7% | 44.9% | 48.9% | 47.1% | 46.3% | 45.1% | 49.8% |
| Net margin | 34.6% | 36.9% | 35.6% | 35.7% | 47.3% | 38.3% | 39.7% | 39.7% |
| FCF margin | 9.3% | 29.0% | 33.4% | 33.0% | 7.2% | 19.1% | 21.8% | 20.2% |
| R&D % of revenue | 11.4% | 11.7% | 11.6% | 10.5% | 10.5% | 10.8% | 11.1% | 9.8% |
| S&M % of revenue | 9.2% | 8.9% | 9.5% | 7.4% | 8.1% | 8.2% | 8.4% | 6.2% |
| SBC % of revenue | 4.4% | 4.3% | 4.0% | 3.8% | 4.0% | 3.7% | 3.5% | 3.4% |
Source filings
| Quarter | Calendar | Period end | Form | Filed | Filing | Earnings 8-K |
|---|---|---|---|---|---|---|
| FY2027 Q1 | CY2026 Q3 | 2026-09-30 | 10-Q | 2026-10-28 | open | open |
| FY2026 Q4 | CY2026 Q2 | 2026-06-30 | 10-K | 2026-07-29 | open | open |
| FY2026 Q3 | CY2026 Q1 | 2026-03-31 | 10-Q | 2026-04-29 | open | open |
| FY2026 Q2 | CY2025 Q4 | 2025-12-31 | 10-Q | 2026-01-28 | open | open |
| FY2026 Q1 | CY2025 Q3 | 2025-09-30 | 10-Q | 2025-10-29 | open | open |
| FY2025 Q4 | CY2025 Q2 | 2025-06-30 | 10-K | 2025-07-30 | open | open |
| FY2025 Q3 | CY2025 Q1 | 2025-03-31 | 10-Q | 2025-04-30 | open | open |
| FY2025 Q2 | CY2024 Q4 | 2024-12-31 | 10-Q | 2025-01-29 | open | open |