Microsoft Q1 FY2027: revenue up 18.8% to $92.28 billion, EPS of $4.92 beats
Microsoft beat on the top and bottom line, but the quality of that bottom line is mixed: revenue rose 18.8%, while the 32% GAAP EPS jump came mostly from last year's OpenAI losses flipping to a small gain. Strip that out and EPS grew 18.0%. Read the scorecard for growth, then the cash-flow and margin notes, because free cash flow fell as capital spending more than doubled.
1 · Expected vs. Actual
Free preview belowGAAP EPS of $4.92 beat the $4.824 consensus by roughly $0.10, a 2.0% surprise. But $0.03 of it came from OpenAI investment gains, and last year's $3.72 carried a $0.41 OpenAI loss, so the 32% headline jump is largely that swing. On the company's non-GAAP basis, EPS was $4.89, up 18.0%.
Revenue was $92.28 billion, up 18.8% from $77.67 billion a year ago and up $2.27 billion sequentially from $90.01 billion. Almost all of it came from one place: Agents and Infra grew 24.5% to $76.80 billion, while Devices and Consumer fell 3.2% to $15.48 billion.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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