Microsoft projects second-quarter revenue of $96 billion to $97.1 billion, with full-year capital expenditures of approximately $170 billion.

Microsoft projects second-quarter revenue of $96 billion to $97.1 billion, with capital expenditures exceeding $50 billion. Azure revenue is expected to grow by 49%, and Microsoft 365 enterprise cloud revenue is projected to grow by approximately 19% at constant currency. Microsoft's CFO stated that capital expenditures for the current calendar year are expected to reach approximately $170 billion, with accelerated growth expected in the second half of fiscal year 2027. The company anticipates maintaining positive cash flow in fiscal year 2027. Microsoft also projects second-quarter revenue from its Devices & Consumer business of $15.9 billion to $16.4 billion. Following the earnings release, Microsoft's stock rose as much as 6% in after-hours trading.