Microsoft's Azure grew 48%, above its guidance of 44-45%. The commercial backlog stayed flat quarter over quarter but rose about 73% to roughly $677 billion. Daniel said Microsoft has not raised debt or diluted shareholders to fund its buildout, unlike other hyperscalers that have kept borrowing and issuing equity. Capex came in somewhat below expectations; he attributed this to supply chain constraints, data center energization and lease timing, and said one quarter is too early to draw conclusions, so upcoming guidance will be important.
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Related tickers and likely impact
MSFT
• NeutralMicrosoft
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 10/28/2026 | 530.83 |
| Change that session | -0.09% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
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