Microsoft Surges After-Hours on Azure Growth and Stable 2026 Capex Outlook

Microsoft beat Q4 revenue expectations with $90 billion (up 18% YoY); Microsoft Cloud revenue rose to $59.3 billion (up 27%), with Azure up 43% YoY. Copilot paid seats surpassed 30 million, while the Productivity and Business Processes segment grew 14.3% to $37.85 billion and More Personal Computing declined about 4.4% to $12.85 billion. Capex for the quarter was $35.8 billion, slightly below forecasts, and management kept the 2026 calendar-capex outlook unchanged after an accounting update. Result: MSFT stock jumped as much as 8% in after-hours trading.