Finsyt AI SummaryQ4 FY2026 · Updated Apr 10, 2026▲ Bullish
Microsoft Q3 FY2026 revenue of $70.6B (+13% YoY) beat consensus by $2.1B, driven by Azure growth of +35% CC — re-accelerating from 31% last quarter. Copilot M365 paid seat additions are ramping, now at 50M+ seats. Operating margin expanded to 46.4% (+220bps). Management signalled Azure will continue to re-accelerate through FY2027 as new data centre capacity comes online. OpenAI equity stake is marked at significant gain. Capital intensity remains elevated at ~$17B/quarter for AI infrastructure.