Microsoft finally answered a question investors have been asking for years: how much does Azure actually make? The company broke out its cloud unit’s exact quarterly revenue for the first time on Wednesday, putting a real number next to a growth rate it has disclosed for years without ever attaching dollar figures.
Azure brought in $29.4 billion for the most recent quarter and $101.9 billion across the fiscal year ending June 30. That places Microsoft behind Amazon, whose cloud division posted $42.2 billion in the same quarter, but ahead of Google, which reported $24.8 billion in cloud sales over the same period. For the first time, all three major cloud providers now sit side by side with comparable numbers instead of growth percentages that make direct comparison difficult.
The disclosure comes bundled with a bigger structural change. Microsoft is collapsing its three reporting segments down to two. One, called Agents and Infra, will house cloud computing, AI software sales, and traditional business software together. The other, Devices and Consumer, covers Windows, Xbox, and advertising revenue from Bing and LinkedIn. CEO Satya Nadella framed the reorganization around how thoroughly AI has reshaped the company’s operations, saying it blurs the lines between products and changes how the business itself runs.
Microsoft also trimmed its Azure revenue forecast slightly, though the company attributed that shift to reclassification rather than weaker demand. Sales from GitHub, previously grouped under Azure, are moving over to Microsoft’s M365 Cloud software segment, which now houses most of the company’s advanced AI offerings. The overall quarterly outlook, Microsoft said, remains unchanged.
The comparison lands at a notable moment for Microsoft’s cloud business specifically. The company remains a major infrastructure provider for OpenAI, though OpenAI’s exclusive reliance on Microsoft ended once contract changes opened the door to Amazon Web Services and other providers. Looking at the full calendar year 2025, AWS posted $128.7 billion in sales, while Azure’s comparable four-quarter total reached $85.8 billion. Google hasn’t disclosed full-year cloud revenue at all.
Microsoft shares rose about 1.4% in after-hours trading following the disclosure, a modest sign investors welcomed the added transparency.
