Microsoft Q2 FY26: Azure & OpenAI Carrying the Weight? (Earnings Analysis) скачать в хорошем качестве

Microsoft Q2 FY26: Azure & OpenAI Carrying the Weight? (Earnings Analysis)

Welcome to Iron Financial. We forge stronger portfolios by cutting through market weakness. In today's breakdown, we are drilling into Microsoft’s (MSFT) Q2 FY2026 earnings. The headline numbers look solid as concrete: Adjusted EPS hit $4.14 (beating the $3.92 expected) , and Revenue climbed to $81.27 billion. But we aren't here for the surface-level paint job. We are looking at the structural integrity. The Drill Down: The Engine: Intelligent Cloud revenue topped $32.91 billion, with Azure growing 38% (ex-FX). This growth is exactly in line with expectations, proving the cloud demand is durable. The Cost of Construction: Microsoft’s Capex surged 66% YoY to $37.5 billion. They are spending heavily to build the AI infrastructure of the future. The Hidden Reinforcement: A massive $625 billion commercial backlog (RPO), up 110%, provides incredible revenue visibility. Crucially, 45% of that backlog is attributed directly to OpenAI. Is the massive AI spend a structural risk or a necessary foundation? Watch the full analysis to see if MSFT belongs in your portfolio. #IronFinancial #MSFT #StockMarket #Earnings #Investing