
Microsoft (MSFT) earnings history, EPS estimates, revenue forecasts and company guidance.
Earnings Per Share (Non-GAAP)
Quarterly Revenue (Billions)
Microsoft (MSFT) last issued guidance on July 29, 2026 for Q1 2027. The company guided revenue in the range of $89.85B - $90.95B for the period.
Compared to prior guidance, Microsoft raised its revenue forecast from a prior range of $86.7B - $87.8B.
Microsoft has issued 16 guidance updates between January 24, 2023 and July 29, 2026. During this period, the company raised its outlook 10 times and lowered it 1 time, providing investors with insight into management's evolving expectations.
| Metric | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 |
|---|---|---|---|---|
| Earnings Per Share (Non-GAAP) | ||||
| Estimate | $4.72 | $4.23 | $4.07 | $3.86 |
| Actual | — | $4.74 | $4.27 | $4.14 |
| Surprise | — | +12.1% | +4.91% | +7.25% |
| Revenue | ||||
| Estimate | $90.70B | $87.61B | $81.42B | $80.25B |
| Actual | — | $90.01B | $82.89B | $81.27B |
| Surprise | — | +2.73% | +1.80% | +1.27% |
| Metric | Q2 '27E | Q3 '27E | Q4 '27E |
|---|---|---|---|
| Earnings Per Share (Non-GAAP) | |||
| Consensus | $4.82 | $4.86 | $5.15 |
| Revenue | |||
| Consensus | $95.67B | — | — |
| Fiscal Quarter | Date Reported | Actual EPS | Estimated EPS | Surprise % |
|---|---|---|---|---|
| Q4 | Jul 29, 2026 | $4.74 | $4.23 | 12.1 % |
| Q3 | Apr 29, 2026 | $4.27 | $4.07 | 4.91 % |
| Q2 | Jan 28, 2026 | $4.14 | $3.86 | 7.25 % |
| Q1 | Oct 29, 2025 | $4.13 | $3.66 | 12.8 % |
| Fiscal Quarter | Date Reported | Actual Revenue | Estimated Revenue | Surprise % |
|---|---|---|---|---|
| Q4 | Jul 29, 2026 | $90.01B | $87.61B | 2.73 % |
| Q3 | Apr 29, 2026 | $82.89B | $81.42B | 1.80 % |
| Q2 | Jan 28, 2026 | $81.27B | $80.25B | 1.27 % |
| Q1 | Oct 29, 2025 | $77.67B | $75.22B | 3.26 % |