Microsoft Cloud Revenues Reach $54.5 Billion in FY26 Q3

Microsoft’s FY26 Q3 results produced $54.5 billion revenue for the Microsoft Cloud, the segment that includes Microsoft 365, Azure, LinkedIn, and other services. The annualized run rate of $218 billion proves just how vital these revenues are to Microsoft. Lots of time was spent talking about Microsoft 365 Copilot, which now has “over 20 million” paid seats. Sounds good, and it’s up five million from the last quarter, but Copilot still has a long road to travel to profitability.