Microsoft Q1 Revenue Beats, Capex Rises 49%

Microsoft reported Q1 revenue $82.9bn, surpassing consensus $81.29bn, and cloud revenue $54.5bn up 29% YoY.
Azure cloud revenue grew 40% in Jan‑Mar quarter, matching Visible Alpha estimate, while AI business hit $37bn annual run‑rate, up 123% YoY.
Capital expenditure jumped 49% to $31.9bn in fiscal Q3, down from $37.5bn in prior quarter, raising concerns over cash flow.
Shares fell over 3% after the report, as analysts flagged OpenAI exposure, rising capex and uncertain Azure capacity breakeven timeline.