Key Points

• Microsoft finished fiscal 2026 with 22% growth in adjusted earnings per share.

• The company’s free cash flow dipped last fiscal year while its capital spending surged.

• Guidance for the September quarter suggests slower operating income growth.

Microsoft (NASDAQ:MSFT) closed at a record $543.45 on Oct. 13, and it hasn’t moved far since. Shares trade near $530 as of this writing, about 2% off the high. Microsoft posts results for the fiscal first quarter of 2027 (the three months ended Sept. 30, 2026) after the market closes on Wednesday, Oct. 28.

The company has earned a good chunk of that climb. Microsoft’s adjusted earnings per share jumped 22% for fiscal 2026, which ended June 30.

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