Microsoft just shared Azure’s actual revenue in dollars: $33.2 billion

Key points

• Microsoft reported Azure revenue of $33.2 billion for the July–September quarter, up 48% from a year earlier.
• Azure's revenue was about $850 million above the $32.3 billion analysts expected.
• Alphabet said Google Cloud brought in $30.7 billion in the same quarter, putting Azure slightly ahead.

Microsoft disclosed Azure's quarterly revenue in dollars for the first time on Wednesday, reporting $33.2 billion for the July–September quarter. That is up 48% from a year earlier, according to the company's earnings release.

The figure was about $850 million more than the $32.3 billion analysts expected. Azure's 48% growth rate also topped the 44% to 45% that Microsoft CFO Amy Hood forecast on the company's July earnings call.

Comparison with rivals

The disclosure lets investors compare Azure's performance more directly against Amazon Web Services and Google Cloud, whose parent companies already report cloud revenue in dollars every quarter.

Alphabet, which also reported earnings on Wednesday, said Google Cloud brought in $30.7 billion in the same quarter, putting Azure slightly ahead. But Google Cloud, which also includes Google's Workspace subscriptions, roughly doubled its revenue from a year earlier, growing about twice as fast as Azure, according to TechCrunch's calculations.

It's been the largest cloud since the beginning of time and no one expects Microsoft to best it right now.

— TechCrunch

Azure's role at Microsoft

Azure is now Microsoft's largest and fastest-growing product line by the company's own figures. It accounted for roughly 36% of Microsoft's $92.3 billion in quarterly revenue.

Azure sits inside Agents and Infra, one of two new business segments Microsoft introduced this quarter. That segment, which groups Azure with Microsoft 365's cloud business, brought in $76.8 billion, up 25% from a year earlier.