Microsoft expects Azure revenue to grow 49%–50% year over year in constant currency in its fiscal 2027 second quarter, CFO Amy Hood said on the company’s October 28 earnings call. That forecast excludes the effect of exchange-rate changes.
The company forecast total revenue of $96 billion to $97.1 billion for the quarter.
Demand exceeds available supply
Hood said customer demand continues to exceed available supply. Microsoft expects capital spending to exceed $50 billion in the second quarter.
Sources: Microsoft’s official fiscal 2027 first-quarter call transcript and the BlockBeats English call report, published October 29, 2026, at 00:31:46 UTC.