Azure revenue: Microsoft reports $33.2B, up 48%, for the first time

Azure revenue was $33.2 billion in Microsoft's first quarter of fiscal 2027, the quarter that ended September 30, 2026, up 48% from a year earlier. It is the first time Microsoft has reported Azure's revenue in dollars, TechCrunch reported. Microsoft's own earnings release gives the 48% growth rate; the dollar figure comes from Microsoft's reporting as relayed by TechCrunch and GeekWire.

How big Azure is now

Azure made up roughly 36% of Microsoft's $92.3 billion in quarterly revenue, TechCrunch calculated. Microsoft calls it its largest and fastest-growing product line. Its 48% growth beat the 44% to 45% that finance chief Amy Hood had forecast on the previous earnings call, per TechCrunch.

Azure is where businesses rent computing power to run applications and to build and run AI models. The release does not say how much of its growth comes from AI workloads.

Azure vs AWS and Google Cloud

Until now, Azure could not be compared in dollars with Amazon Web Services or Google Cloud, whose parent companies report cloud revenue every quarter. TechCrunch said Azure's figure puts it slightly ahead of AWS for the same quarter, a comparison that rests on its own reading of Amazon's numbers. Amazon reports its quarter on October 29, so check Amazon's release before leaning on that comparison.

Google Cloud is not a like-for-like match either. Alphabet's third-quarter release shows Google Cloud revenue of $30.7 billion, up 103%, and it includes products such as Workspace subscriptions.

Why the figure appeared now

Microsoft reorganized its reporting this quarter. A new segment called Agents and Infra groups Azure with Microsoft 365's cloud business and brought in $76.8 billion, up 25%. The older three-segment layout is gone. See our full Microsoft earnings report for the other numbers.