[CICC Overseas Software] Microsoft (MSFT) FY26Q4 results key highlights:

English summary

1. Key highlights: Total revenue $90.01B, +18% YoY, +17% in constant currency, 2.8% above consensus, 2.3% above CICC estimates. AI monetization and cloud demand remain strong: Azure and other cloud services revenue +43% YoY; Microsoft's Azure revenue exceeded $100B for the first time this fiscal year, and Microsoft 365 Copilot paid seats exceeded 30 million. Microsoft Cloud revenue $59.3B, +27% YoY; commercial RPO reached $678B, +84% YoY, with order backlog continuing to grow significantly. Productivity and Business Processes revenue $37.85B, +14% YoY, with Microsoft 365 Commercial cloud revenue +14% YoY; ...