EARNINGS PRINTS

Microsoft (MSFT) Q1 fiscal 2027 results

Q1 FY27: quarter ended Sep 30, 2026 (13 weeks)/Release accepted Oct 28, 2026 4:04 PM ET

Final10-Q filed Oct 28, 2026MSFTQ1 FY27

10th straight quarterly revenue record

Records measured over filed history since Q1 FY17 (41 comparable quarters).

Quarterly revenueQ2 FY24 to Q1 FY27 (12 quarters)
Revenue
$92.3Bup +18.8% YoY
Net income
$36.6Bup +32.0% YoY
Diluted EPS
$4.92up +32.3% YoY

Q1 FY27 = quarter ended Sep 30, 2026Data as of

Microsoft reported revenue of $92.3B for Q1 fiscal 2027 (quarter ended Sep 30, 2026), +18.8% year over year. That is the highest quarterly revenue in 41 comparable quarters since Q1 FY17, and the 10th record in a row.

Informational only. Not investment advice or a recommendation to buy, sell or hold any security. Figures are from company filings retrieved via SEC EDGAR; press-release (preliminary) figures may be revised in the 10-Q/10-K. Data as of Oct 28, 2026 4:07 PM ET.

Updated ยท Report an error

Net income was $36.6B; diluted EPS was $4.92. Every figure here comes from 10-Q filed Oct 28, 2026. The earnings release reached the SEC at Oct 28, 2026 4:04 PM ET, and this is the latest Microsoft quarter on the site. Longer history: MSFT earnings history.

Revenue, last 12 quarters

Revenue set a record 10 quarters running

Microsoft quarterly revenue, Q2 FY24 to Q1 FY27 (bar chart)

Bars: revenue. Labels: change from the same quarter a year earlier.

Microsoft quarterly revenue, Q2 FY24 to Q1 FY27 chartQ2 FY24 $62.0B (+17.6% YoY); Q3 FY24 $61.9B (+17.0% YoY); Q4 FY24 $64.7B (+15.2% YoY); Q1 FY25 $65.6B (+16.0% YoY); Q2 FY25 $69.6B (+12.3% YoY); Q3 FY25 $70.1B (+13.3% YoY); Q4 FY25 $76.4B (+18.1% YoY); Q1 FY26 $77.7B (+18.4% YoY); Q2 FY26 $81.3B (+16.7% YoY); Q3 FY26 $82.9B (+18.3% YoY); Q4 FY26 $90.0B (+17.7% YoY); Q1 FY27 $92.3B (+18.8% YoY) +17.6%Q2 FY24 +17.0%Q3 FY24 +15.2%Q4 FY24* +16.0%Q1 FY25 +12.3%Q2 FY25 +13.3%Q3 FY25 +18.1%Q4 FY25* +18.4%Q1 FY26 +16.7%Q2 FY26 +18.3%Q3 FY26 +17.7%Q4 FY26* +18.8%$92.3BQ1 FY27 10 straight quarterly records Microsoft quarterly revenue, Q2 FY24 to Q1 FY27 chart (rows, oldest first)Q2 FY24 $62.0B (+17.6% YoY); Q3 FY24 $61.9B (+17.0% YoY); Q4 FY24 $64.7B (+15.2% YoY); Q1 FY25 $65.6B (+16.0% YoY); Q2 FY25 $69.6B (+12.3% YoY); Q3 FY25 $70.1B (+13.3% YoY); Q4 FY25 $76.4B (+18.1% YoY); Q1 FY26 $77.7B (+18.4% YoY); Q2 FY26 $81.3B (+16.7% YoY); Q3 FY26 $82.9B (+18.3% YoY); Q4 FY26 $90.0B (+17.7% YoY); Q1 FY27 $92.3B (+18.8% YoY) Q2 FY24 $62.0B +17.6%Q3 FY24 $61.9B +17.0%Q4 FY24* $64.7B +15.2%Q1 FY25 $65.6B +16.0%Q2 FY25 $69.6B +12.3%Q3 FY25 $70.1B +13.3%Q4 FY25* $76.4B +18.1%Q1 FY26 $77.7B +18.4%Q2 FY26 $81.3B +16.7%Q3 FY26 $82.9B +18.3%Q4 FY26* $90.0B +17.7%Q1 FY27 $92.3B +18.8%
  • Q1 FY27
  • Earlier quarters
  • * Derived: fiscal year minus nine months (Q4 is inside the 10-K)

Quarterly revenue for the last 12 quarters, Q1 FY27 highlighted; the bars are labelled with each quarter's year-over-year change. Derived values (fiscal year minus nine months): Q4 FY24, Q4 FY25, Q4 FY26.

Show these 12 quarters as a table
Microsoft quarterly revenue, Q2 FY24 to Q1 FY27. Full history: MSFT earnings history.
QuarterRevenueYoY
Q1 FY27ended Sep 30, 2026$92.3Bup +18.8%
Q4 FY26*ended Jun 30, 2026$90.0Bup +17.7%
Q3 FY26ended Mar 31, 2026$82.9Bup +18.3%
Q2 FY26ended Dec 31, 2025$81.3Bup +16.7%
Q1 FY26ended Sep 30, 2025$77.7Bup +18.4%
Q4 FY25*ended Jun 30, 2025$76.4Bup +18.1%
Q3 FY25ended Mar 31, 2025$70.1Bup +13.3%
Q2 FY25ended Dec 31, 2024$69.6Bup +12.3%
Q1 FY25ended Sep 30, 2024$65.6Bup +16.0%
Q4 FY24*ended Jun 30, 2024$64.7Bup +15.2%
Q3 FY24ended Mar 31, 2024$61.9Bup +17.0%
Q2 FY24ended Dec 31, 2023$62.0Bup +17.6%

What the numbers mean

Revenue of $92,279M was $14.6B, or 18.8%, above the $77,673M reported for Q1 FY26. Growth held in double digits. On Q4 FY26 it was up 2.5%, or $2.3B.

Net income of $36,629M was up 32.0% on $27,747M a year earlier: $8.9B more. Net income took 39.7% of revenue, about 40 cents in every dollar; a year ago it took 35.7%, so the margin widened by 4.0 pp.

Diluted EPS came to $4.92, up 32.3% on $3.72 a year earlier, in step with net income (+32.0%). The diluted share count (7,446M) moved by less than 1%, so EPS and net income tell much the same story.

Over the last four quarters, to Sep 30, 2026, revenue totals $346.4B and net income $142.6B, a 41.2% margin; the latest quarter's 39.7% is below that average.

In the MSFT table, diluted EPS for Q4 FY26 reads n/a: that period is a fiscal fourth quarter, which the 10-K reports only as part of the full year. A Q4 figure is shown only when the company's own earnings release prints it, and it is never worked out from annual numbers.

The numbers

Microsoft Q1 FY27: GAAP figures as filed. Superscript numbers point to the filing in Sources; letters to the notes under the table.
MetricQ1 FY27ended Sep 30, 2026Q1 FY26ended Sep 30, 2025Q4 FY26ended Jun 30, 2026YoYQoQ
Revenue $92,279M4 $77,673M4 $90,007M*2 up +18.8%up +2.5%
Net income $36,629M4 $27,747M4 $35,766M*2 up +32.0%up +2.4%
Diluted EPS $4.924 $3.724 n/a1 up +32.3%n/a2
  • * Derived: fiscal year minus nine months (Q4 is inside the 10-K).
  • 1 n/a: not printed in a filing; never derived.
  • 2 n/a: a figure it compares is n/a.

What stands out

  • Revenue is the highest of the 41 comparable quarters since Q1 FY17: a record for that span.
  • Revenue is 18.8% above Q1 FY26.
  • Revenue is 2.5% above the previous quarter, Q4 FY26.
  • Net margin is 39.7% in Q1 FY27, up 4.0 pp from 35.7% a year earlier.

Bottom line

At Microsoft, revenue (+18.8%) and net income (+32.0%) both rose from a year earlier. Revenue of $92.3B is the highest of the 41 comparable quarters since Q1 FY17.

Editor's note

Microsoft's 18.8% revenue growth came with faster profit growth: net income rose 32.0% to $36.6B from $27.7B in the year-ago quarter. Nonoperating items added only $38M to $46.0B of pretax income, so the profit gain came from the operating side. Diluted EPS of $4.92 gained 32.3%, marginally ahead of net income, which fits a slightly lower average share count (7,446M).

Reviewed by the Earnings Prints editor

Questions

What was MSFT's revenue in Q1 fiscal 2027?

Microsoft reported revenue of $92,279M for the quarter that ended Sep 30, 2026, +18.8% from $77,673M a year earlier. The figure is taken from the 10-Q filed Oct 28, 2026.

What was MSFT's earnings per share for Q1 fiscal 2027?

Diluted EPS under US GAAP was $4.92 on net income of $36,629M. This is the GAAP figure as filed, not an adjusted or non-GAAP number.

Where is the MSFT earnings report for Q1 FY27?

The 10-Q with the financial statements was filed on Oct 28, 2026 under accession number 0001193125-26-436133; it is linked in the source list below. The earnings release itself, a Form 8-K, was accepted on Oct 28, 2026 4:04 PM ET (accession 0001193125-26-436122).

Where can I see MSFT earnings history?

The MSFT earnings history page lists all 73 quarters on record (41 of them a like-for-like run since Q1 FY17), with annual totals and the timestamps of past earnings releases.

Is the Q1 FY27 data for MSFT final?

The MSFT Q1 FY27 numbers come from 10-Q filed Oct 28, 2026. A company can restate prior periods in later filings; if that changes a figure here, the page is updated and the change is listed on the corrections page.

More from MSFT

Sources and method

Source: company filings on SEC EDGAR. Each figure traces to one of these documents:

  1. 10-Q filed Apr 29, 2026, accession 0001193125-26-191507
  2. 10-K filed Jul 29, 2026, accession 0001193125-26-323660
  3. 8-K filed Oct 28, 2026, accession 0001193125-26-436122
  4. 10-Q filed Oct 28, 2026, accession 0001193125-26-436133

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Method: year-over-year change compares the same fiscal quarter of the prior year, for 13-week quarters only.

Figures are GAAP as filed; percentages are rounded to one decimal.

How we calculate