Microsoft’s fiscal Q3 2026 results beat expectations with revenue of $82.9 billion and EPS of $4.27. Azure cloud platform grew 40% year-over-year, while the AI business reached an annual revenue run rate of $37 billion, up 123% year-over-year. Microsoft Cloud overall hit $54.5 billion in quarterly revenue. The company also signed a $9.7 billion AI cloud deal with IREN, a bitcoin mining company repurposing its infrastructure for Azure AI workloads.
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