Microsoft Q4 earnings show Azure up 43 percent and an AI run rate above 37 billion dollars as capex holds steady

Microsoft reported fiscal Q4 revenue of 90 billion dollars, with Azure growth of 43 percent in constant currency and an AI annual revenue run rate above 37 billion dollars, up 123 percent year over year. It kept its 2026 capital spending outlook steady and passed 20 million paid Microsoft 365 Copilot seats, sending the stock higher after hours.