Microsoft CEO Satya Nadella speaks at the World Economic Forum in Davos, Switzerland on January 20, 2026.
Christian Bocce | Bloomberg | Getty Images
Microsoft A report on fiscal second-quarter results is scheduled after the market closes on Wednesday.
Analysts surveyed by LSEG expect:
- Earnings per share: Adjusted to $3.97
- Input: $80.27 billion
Consensus means analysts expect annual revenue growth of 15% for the quarter ended Dec. 31.
Investors are paying close attention to the growth rate of Microsoft’s Azure cloud infrastructure and other cloud services.
Analysts polled by StreetAccount and CNBC expect growth of 39.4% and 38.9%, respectively, in this category. Azure revenue grew 40% in the first fiscal quarter. The deceleration occurs after three-quarters of the successive acceleration.
like its cloud competitors AmazonMicrosoft is building data centers filled with special-purpose chips that can perform generative work artificial intelligence models. Microsoft also pays for capacity CoreWeave and I won’t be in the form of a lease.
Analysts polled by Visible Alpha expect quarterly capital spending and finance leases of $34.31 billion, up about 52%.
During the quarter, Microsoft said that raise the price of commercial Office productivity software subscriptions.
OpenAI, supported by Microsoft, has agreed to spend 250 billion dollars more Azure has announced plans to acquire cloud services and Anthropic $30 billion uses cloud services and contracts up to gigawatts of additional computing power.
Microsoft shares have fallen nearly 10% over the past three months, while the S&P 500 has gained 1%.
Executives will discuss the results and provide guidance on a conference call with analysts beginning at 5:30 p.m. ET.
