Azure revenue grew 48% year over year to $33.17 billion in Microsoft’s fiscal first quarter of 2027, exceeding analyst expectations. Total revenue reached $92.28 billion, up 19%, while adjusted earnings per share came in at $4.89. Microsoft forecast 49% to 50% Azure growth for the next quarter, indicating sustained enterprise demand for artificial intelligence computing capacity. Capital expenditures totaled $45.2 billion, $4.8 billion below expectations, while analyst Dan Ives maintained his Outperform rating on Microsoft with a $615 price target.
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