Revenue: As of FY2026 Q2, the actual value is USD 81.27 B, beating the estimate of USD 80.28 B.EPS: As of FY2026 Q2, the actual value is USD 5.16, beating the estimate of USD 3.8486.EBIT: As of FY2026 Q2, the actual value is USD 38.17 B.<h4>Net Income</h4><ul><li>Net income for the three months ended December 31, 2025, was $38,458 million, an increase from $24,108 million for the same period in 2024.</li><li>For the six months ended December 31, 2025, net income was $66,205 million, compared to $48,775 million for the same period in 2024.</li></ul><h4>Gross Margin</h4><ul><li>Gross margin for the three months ended December 31, 2025, was $55,295 million, up from $47,833 million in the prior year.</li><li>For the six months ended December 31, 2025, gross margin was $108,925 million, compared to $93,319 million in 2024.</li></ul><h4>Operating Income</h4><ul><li>Operating income for the three months ended December 31, 2025, was $38,275 million, an increase from $31,653 million in 2024.</li><li>For the six months ended December 31, 2025, operating income was $76,236 million, up from $62,205 million in 2024.</li></ul><h4>Other Income (Expense), Net</h4><ul><li>Other income (expense), net, was $9,971 million for the three months ended December 31, 2025, a significant improvement from - $2,288 million in 2024.</li><li>For the six months ended December 31, 2025, other income (expense), net, was $6,311 million, compared to - $2,571 million in 2024.</li><li>This included $10.0 billion and $5.9 billion of net gains for the three and six months ended December 31, 2025, respectively, from investments in OpenAI, primarily due to a dilution gain from the OpenAI Recapitalization, while prior year periods saw net losses of $1.2 billion and $1.9 billion, respectively.</li></ul><h4>Segment Performance</h4><h5>Productivity and Business Processes</h5><ul><li>Revenue: $34,116 million for the three months ended December 31, 2025, (up from $29,437 million in 2024) and $67,136 million for the six months ended December 31, 2025 (up from $57,754 million in 2024).</li><li>Cost of Revenue: $6,110 million for the three months ended December 31, 2025 (up from $5,569 million in 2024) and $11,831 million for the six months ended December 31, 2025 (up from $10,863 million in 2024).</li><li>Operating Expenses: $7,407 million for the three months ended December 31, 2025 (up from $6,983 million in 2024) and $14,299 million for the six months ended December 31, 2025 (up from $13,490 million in 2024).</li><li>Operating Income: $20,599 million for the three months ended December 31, 2025 (up from $16,885 million in 2024) and $41,006 million for the six months ended December 31, 2025 (up from $33,401 million in 2024).</li></ul><h5>Intelligent Cloud</h5><ul><li>Revenue: $32,907 million for the three months ended December 31, 2025 (up from $25,544 million in 2024) and $63,804 million for the six months ended December 31, 2025 (up from $49,636 million in 2024).</li><li>Cost of Revenue: $13,566 million for the three months ended December 31, 2025 (up from $9,405 million in 2024) and $25,880 million for the six months ended December 31, 2025 (up from $18,019 million in 2024).</li><li>Operating Expenses: $5,468 million for the three months ended December 31, 2025 (up from $5,288 million in 2024) and $10,660 million for the six months ended December 31, 2025 (up from $10,263 million in 2024).</li><li>Operating Income: $13,873 million for the three months ended December 31, 2025 (up from $10,851 million in 2024) and $27,264 million for the six months ended December 31, 2025 (up from $21,354 million in 2024).</li></ul><h5>More Personal Computing</h5><ul><li>Revenue: $14,250 million for the three months ended December 31, 2025 (down from $14,651 million in 2024) and $28,006 million for the six months ended December 31, 2025 (up from $27,827 million in 2024).</li><li>Cost of Revenue: $6,302 million for the three months ended December 31, 2025 (down from $6,825 million in 2024) and $12,310 million for the six months ended December 31, 2025 (down from $13,016 million in 2024).</li><li>Operating Expenses: $4,145 million for the three months ended December 31, 2025 (up from $3,909 million in 2024) and $7,730 million for the six months ended December 31, 2025 (up from $7,361 million in 2024).</li><li>Operating Income: $3,803 million for the three months ended December 31, 2025 (down from $3,917 million in 2024) and $7,966 million for the six months ended December 31, 2025 (up from $7,450 million in 2024).</li></ul><h4>Cash Flow</h4><ul><li>Net cash from operations: $35,758 million for the three months ended December 31, 2025, compared to $22,291 million in 2024. For the six months ended December 31, 2025, it was $80,815 million, compared to $56,471 million in 2024.</li><li>Net cash used in financing: - $17,617 million for the three months ended December 31, 2025, compared to - $11,243 million in 2024. For the six months ended December 31, 2025, it was - $29,416 million, compared to - $27,819 million in 2024.</li><li>Net cash used in investing: - $22,705 million for the three months ended December 31, 2025, compared to - $14,112 million in 2024. For the six months ended December 31, 2025, it was - $57,264 million, compared to - $29,313 million in 2024.</li></ul><h4>Other Key Financial Metrics</h4><ul><li>Property and Equipment Additions: Additions to property and equipment were - $29,876 million for the three months ended December 31, 2025, and - $49,270 million for the six months ended December 31, 2025.</li><li>Unearned Revenue: Total unearned revenue was $54,044 million as of December 31, 2025, down from $67,265 million as of June 30, 2025.</li><li>Share Repurchases: 微软 (Microsoft Corporation) repurchased $5,964 million in common stock during the second quarter of fiscal year 2026 (three months ended December 31, 2025) and $9,919 million for the six months ended December 31, 2025.</li><li>Cash Dividends Paid: Common stock cash dividends paid were - $6,762 million for the three months ended December 31, 2025, and - $12,931 million for the six months ended December 31, 2025.</li><li>Goodwill: Total goodwill was $119,622 million as of December 31, 2025, slightly up from $119,509 million as of June 30, 2025.</li><li>Intangible Assets, Net: Total intangible assets, net, were $20,289 million as of December 31, 2025, down from $22,604 million as of June 30, 2025.</li></ul><h4>Future Outlook and Strategy</h4><ul><li>微软 (Microsoft Corporation) plans to adopt new accounting standards for income tax disclosures and income statement expenses in fiscal years 2026 and 2028, respectively.</li><li>The company is contesting IRS audits for tax years 2004-2017, with no significant change to tax contingencies expected within the next 12 months.</li><li>Approximately 25% of the $631 billion in remaining performance obligations as of December 31, 2025, is expected to be recognized as revenue over the next 12 months.</li></ul>

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- As of Q2 FY 2026, Microsoft reported revenue of $81.3 billion and earnings per share of $5.16, both exceeding market expectations.  
- For the quarter ending December 31, 2025, the company posted a net income of $38.46 billion, up from $24.11 billion the previous year, alongside a comprehensive income of $38.52 billion.  
- Microsoft anticipates that approximately 25% of its remaining performance obligations will be recognized within the next 12 months, while managing IRS adjustments and upcoming leases worth $155.1 billion.

Microsoft | 10-Q: FY2026 Q2 Revenue Beats Estimate at USD 81.27 B