Microsoft Q1 FY26: where the revenue came from and where it went
The whole income statement of Microsoft for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jul 1 – Sep 30, 2025
- Reported
- Oct 29, 2025
Revenue$77.7B
+18% year over year
Gross profit$53.6B
69% margin
Operating profit$38.0B
49% margin
Net profit$27.7B
36% margin
Figures in billions of dollars.
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 77.7 | 100% | +18% |
| Server & cloud | 28.9 | 37% | +30% |
| Commercial | 24.0 | 31% | +17% |
| Gaming | 5.5 | 7% | −2% |
| 4.7 | 6% | +10% | |
| Windows & devices | 4.6 | 6% | +5% |
| Other | 4.2 | 5% | |
| Search & news advertising | 3.7 | 5% | +15% |
| Consumer | 2.2 | 3% | +28% |
| Cost of revenue | −24.0 | 31% | |
| Gross profit | 53.6 | 69% margin | +0pp |
| R&D | −8.1 | 11% | −1pp |
| Sales & marketing | −5.7 | 7% | −1pp |
| G&A | −1.8 | 2% | +0pp |
| Operating profit | 38.0 | 49% margin | +2pp |
| Interest & other costs | −3.7 | ||
| Tax | −6.6 | ||
| Net profit | 27.7 | 36% margin | −2pp |
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