Microsoft tops Wall Street expectations, reports accelerating Azure growth and $37B AI run rate

Microsoft’s Azure cloud business accelerated in the March quarter, growing 40% and topping the company’s own forecast, giving the tech giant a new answer to questions about its ability to translate record capital spending on AI infrastructure into stronger financial results. The company’s revenue rose 18% to $82.9 billion, beating the $81.4 billion analyst consensus, and earnings per share jumped 23% to $4.27, above the $4.06 expected by Wall Street. Note: Q2-26 net income ($38.5B GAAP) includes