$33.17 billion.
$33.17 billion. That is the one number from Microsoft's October 28 report I keep coming back to, because it is Azure in dollars, and it tells me this AI spend is turning into revenue at scale.
- Azure grew 48% year over year, up from 42% in the June quarter per CNBC. CNBC reports it is the first time Microsoft has disclosed Azure in dollars, as a line in a new product-and-service revenue table that arrived with a broader reporting overhaul.
- Revenue was $92.28B (+19%) vs $90.69B expected, and adjusted EPS was $4.89 vs $4.73. GAAP EPS came in at $4.92.
- Operating margin rose to 49.8% from 48.9% a year ago, so growth is not costing them profitability.
- Capex and finance leases were $45.2B, below the $50.67B estimate. Coverage points to timing and delayed third-party capacity, and full-year plans were described as unchanged, so I would not call it a pullback.
$MSFT was $544.50 after hours on October 28, up 2.54% from the $531.01 close. I'm still mixed on AI capex overall, but this is the kind of revenue I'd need to see from far more names than one. I could be wrong, but on a pullback this stays a quality name for cash-secured puts.
Source:
TheStreet Pro: https://pro.thestreet.com/stock-market-today/2026-10-28
Not financial advice. For informational and educational purposes only.
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