Microsoft’s stock jumps 15% after fiscal year 2026 earnings report
Microsoft’s stock has rallied 26% from its 52-week low after the company reported its fiscal year 2026 earnings. The stock saw a single-day jump of 15% after the report was released.
Microsoft’s earnings report showed promising results, with Microsoft Azure revenue increasing 41% year over year to over $100 billion and Microsoft Cloud revenue increasing 27% year over year to over $214 billion. The company’s $678 billion cloud backlog also grew 25% year over year.
The earnings report has eased concerns about Microsoft’s artificial intelligence spending, which had been a major concern for investors. The company’s progress in its cloud business is a positive sign for long-term investors.
The stock is still in the red for the year, but the recent surge has given it momentum. Microsoft’s cloud business continues to drive growth, with a significant increase in revenue and backlog.