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How Microsoft (MSFT) makes money: Q4 FY2026 revenue breakdown
US GAAP · $M · vs Q4 FY2025 · quarter ended 06/30/2026 (fiscal year is shifted) · reported 07/29/2026
Microsoft Corporation is an American multinational technology company headquartered in Redmond, Washington. · Wikipedia
More about the company
The company became influential in the rise of personal computers through software like Windows and has since expanded into areas such as Internet services, cloud computing, artificial intelligence, video gaming, and more. A Big Tech company, Microsoft is the largest software company by revenue, one of the most valuable public companies, and one of the most valuable brands globally.
Key growth driver: Intelligent Cloud — the fastest-growing revenue line: $39,306, +32% y/y. · by the Q4 FY2026 report
How does Microsoft make money?
Microsoft brought in $90.0 billion of revenue in Q4 FY2026, up 18% year over year. The largest source was Intelligent Cloud: $39.3 billion, or 44% of the total, followed by Productivity & Business Processes ($37.8B, 42%) and More Personal Computing ($12.9B, 14%). Net income for the quarter was $35.8 billion, up 31% year over year.
Revenue by source, Q4 FY2026
- Intelligent Cloud$39.3B · 44% · +32%
- Productivity & Business Processes$37.8B · 42% · +14%
- More Personal Computing$12.9B · 14% · −4%
Shares of $90.0B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is MSFT’s next earnings date?
Wednesday, November 4, 2026estimated
Microsoft (MSFT) has not confirmed the date yet; Nov 4, 2026 is an estimate based on the company's past reporting schedule and may move once the date is announced. Consensus EPS forecast: $4.70 (14 analysts), vs $4.13 in the same quarter last year.
What time does MSFT report? Usually after market close: the last 4 results releases reached the SEC at 4:04 pm, 4:03 pm, 4:04 pm, 4:07 pm ET.
Last report: Jul 29, 2026 (Q4 FY2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$90,007
+18%
Gross profit
$60,482
+15%
67.2% margin
Operating income
$40,603
+18%
45.1% margin
Net income
$35,766
+31%
$4.81 diluted EPS
Verdict: an exceptionally strong quarter with revenue up 18% to $90.0 billion and operating income up 18%, driven by Azure's 43% surge and Intelligent Cloud's 32% growth, while GAAP net income of $35.8 billion (+31%) was flattered by a $3.2 billion Anthropic investment gain embedded in other income, partially offset by softness in More Personal Computing (-4%).
OCF $55.4B; returned $10.2B to shareholders via dividends ($6.8B) and buybacks ($4.6B); commercial RPO +84% to $678B; no forward guidance issued in release (given on earnings call).
Source and notation
* marks non-cash / ≈ estimated. Source: Microsoft press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
MSFT earnings history: past report dates
| Jul 29, 2026 Wed | 4:04 pmafter market close | Jun 30, 2026 | ≈$90.0B+18% y/y | ≈$4.80+32% y/y |
| Apr 29, 2026 Wed | 4:03 pmafter market close | Mar 31, 2026 | $82.9B+18% y/y | $4.27+23% y/y |
| Jan 28, 2026 Wed | 4:04 pmafter market close | Dec 31, 2025 | $81.3B+17% y/y | $5.16+60% y/y |
| Oct 29, 2025 Wed | 4:07 pmafter market close | Sep 30, 2025 | $77.7B+18% y/y | $3.72+13% y/y |
| Jul 30, 2025 Wed | 4:08 pmafter market close | Jun 30, 2025 | ≈$76.4B+18% y/y | ≈$3.65+24% y/y |
| Apr 30, 2025 Wed | 4:06 pmafter market close | Mar 31, 2025 | $70.1B+13% y/y | $3.46+18% y/y |
| Jan 29, 2025 Wed | 4:08 pmafter market close | Dec 31, 2024 | $69.6B+12% y/y | $3.23+10% y/y |
| Oct 30, 2024 Wed | 4:04 pmafter market close | Sep 30, 2024 | $65.6B+16% y/y | $3.30+10% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Microsoft: 5-year financials
| FY2026 | 331,839 | 155,237 | 133,749 | 66,987 | 26,445 |
| FY2025 | 281,724 | 128,528 | 101,832 | 71,611 | 24,082 |
| FY2024 | 245,122 | 109,433 | 88,136 | 74,071 | 21,771 |
| FY2023 | 211,915 | 88,523 | 72,361 | 59,475 | 19,800 |
| FY2022 | 198,270 | 83,383 | 72,738 | 65,149 | 18,135 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP); the company’s fiscal year doesn’t match the calendar year so years follow the company’s own labels.
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Jul 202610-K FY2026: a single class registered — MSFT common stock; the legal matters note shows no shareholder suits and no SEC cases. sec.gov ↗
- Jun 2026Diluted shares fell 2.0% over FY2021–FY2026; SBC was $12.4B, 3.7% of revenue (XBRL). data.sec.gov ↗
- Jun 2026Dividend per share rose from $2.24 in FY2021 to $3.64 in FY2026; $16.7B of buybacks in FY2026. data.sec.gov ↗
Scoring: 2.0, no deductions: single share class, shares −2% over 5 years, SBC 3.7% of revenue, dividend raised every year, no shareholder suits or SEC disclosure cases
- Share classes
- Single class of common stock (10-K FY2026 cover).
- Dilution
- Diluted shares FY2021→FY2026 −2.0%, SBC 3.7% of revenue — below thresholds.
- Disclosure
- Full 10-K/10-Q reporting, filed on time.
- Dividends
- Dividend raised every year: $2.24 (FY2021) → $3.64 (FY2026); $16.7B of buybacks in FY2026.
- Lawsuits & regulators
- Note 14 "Contingencies" in the 10-K FY2026 shows no shareholder suits or SEC investigations; the 2019 SEC FCPA penalty carries no deduction under the methodology.
- Related parties
- No material related-party transactions (proxy: ordinary purchases from directors' companies).
How the score works · checked as of Sep 2026
Microsoft (MSFT) earnings: FAQ
How does Microsoft make money?
Microsoft brought in $90.0 billion of revenue in Q4 FY2026, up 18% year over year. The largest source was Intelligent Cloud: $39.3 billion, or 44% of the total, followed by Productivity & Business Processes ($37.8B, 42%) and More Personal Computing ($12.9B, 14%). Net income for the quarter was $35.8 billion, up 31% year over year.
When is MSFT's next earnings date?
Microsoft (MSFT) has not confirmed the date yet; Nov 4, 2026 is an estimate based on its past reporting schedule.
What time does MSFT report earnings?
Microsoft usually reports after market close: its latest results release was filed with the SEC at 4:04 pm ET on Jul 29, 2026.
When did MSFT last report earnings?
Microsoft reported Q4 FY2026 results on Jul 29, 2026.
What is the EPS estimate for MSFT's next earnings?
The consensus EPS forecast is $4.70 (14 analysts), vs $4.13 in the same quarter last year.
Where can I find Microsoft's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to MSFT's filings; this page breaks the latest report down in a Sankey chart.
What was MSFT's net income in Q4 FY2026?
Microsoft reported net income of $35,766M for Q4 FY2026 (+31% year over year), under US GAAP.
Does Microsoft pay dividends?
Yes. In fiscal 2026, Microsoft paid $26,445M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/27/2026. How we make the breakdowns · Report an error
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