Microsoft(US:MSFT) 第一财经·2025-10-30 02:42Core Viewpoint - Microsoft reported strong revenue and net profit growth for Q1 of FY2026, but its stock price fell nearly 4% in after-hours trading due to higher-than-expected capital expenditures [3][4]. Financial Performance - Q1 revenue reached $77.7 billion, an 18% year-over-year increase, while net profit was $27.7 billion, up 12% [4]. - Capital expenditures hit a record $34.9 billion, exceeding the previous forecast of over $30 billion [4]. - Gross margin for the quarter was 69%, showing a decline attributed to investments in artificial intelligence [4]. Investment in AI and Cloud Services - Approximately half of the capital expenditure was allocated to short-term assets, primarily for GPU and CPU purchases to support Azure platform demand and AI solutions [4]. - The Intelligent Cloud segment generated $30.9 billion in revenue, a 28% increase, with Azure and other cloud services revenue growing by 40% [5]. Business Segment Performance - Personal Computing revenue was $13.8 billion, a 4% increase, with Windows OEM and device revenue rising by 6% [6]. - The Productivity and Business Processes segment reported $33 billion in revenue, up 17%, with LinkedIn revenue growing by 10% [6]. Investment in OpenAI - Microsoft disclosed a $3.1 billion reduction in net profit due to losses from its investment in OpenAI during Q1 of FY2026 [6]. - A new agreement with OpenAI was announced, including a $250 billion purchase of Azure services, with Microsoft claiming a tenfold return on its investment in OpenAI [6]. Workforce and Legal Challenges - Microsoft has undergone multiple rounds of layoffs this year, including 6,000 in May and 9,000 in July, affecting nearly 4% of its total workforce [7]. - The Australian Competition and Consumer Commission (ACCC) has filed a lawsuit against Microsoft for misleading customers regarding the bundling of Microsoft 365 with AI tools [7].