Q1
Microsoft Q1 FY2027: Azure up 48%, but capital spending doubled to $39.4B and free cash flow fell 27%
Microsoft's fiscal Q1 2027 revenue rose 19% to $92.3B as Azure grew 48%, but reported EPS growth of 32% falls to 18% excluding a prior-year OpenAI loss, and capital spending doubled to $39.4B, cutting free cash flow 27%.