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Microsoft Azure full-year revenue crosses $100 billion as backlog grows on broad customer base

7/29/2026

Cloud revenue, meaning money corporations pay to rent computing infrastructure and software from a provider rather than own and run it themselves, crossed $100 billion at Microsoft's Azure division for the full fiscal year.

Microsoft also beat fourth-quarter cloud expectations.

The figure that deserves the most scrutiny sits in the backlog: signed customer contracts not yet converted to billed revenue grew 8% over the prior quarter, and that growth came mainly from businesses outside the large artificial intelligence sector.

What a backlog measures and why this one matters A backlog is not revenue.