Microsoft (MSFT) Q3 2026 Earnings: Azure Hits 40% Growth as AI Run Rate Surpasses $37B

Microsoft Corp (NASDAQ: MSFT) shares edged higher in after-hours trading on April 29, 2026, after the software giant delivered a "triple-beat" fiscal third-quarter report. Despite a difficult start to the calendar year for the stock, Microsoft proved its AI monetization thesis is accelerating, with Azure growth hitting 40% and the company’s total AI business run rate surpassing $37 billion, a 123% increase year-over-year.