Microsoft Reveals Azure’s $33.2 Billion Quarterly Revenue for First Time

Summary

Microsoft on October 28, 2026 disclosed Azure’s quarterly revenue in dollars for the first time: $33.2 billion for July through September, up 48% year over year. That was about $850 million above analysts’ $32.3 billion estimate and exceeded CFO Amy Hood’s July forecast of 44% to 45% growth. Azure, where businesses rent computing power for applications, SaaS and AI models, became Microsoft’s largest and fastest-growing product line, contributing roughly 36% of the company’s record $92.3 billion quarterly revenue.

The disclosure enables direct comparisons with rivals. Google Cloud, including Workspace subscriptions, generated $30.7 billion in the quarter, slightly trailing Azure, but roughly doubled year over year and grew about twice as fast. Azure now sits with Microsoft 365’s cloud business in Agents and Infra, one of two new segments introduced this quarter; the segment produced $76.8 billion, up 25%. Microsoft previously reported Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. Amazon reports on October 29, with AWS expected to grow and remain the largest cloud, which Azure is not expected to overtake yet.