内容来源：https://www.geekwire.com/2025/microsoft-beats-expectations-reports-nearly-35b-in-q1-capital-spending-amid-azure-outage/

内容总结：

微软公司于周三公布2026财年第一季度财报，其营收与利润双双超越市场预期，其中Azure云服务收入增速攀升至40%。尽管业绩亮眼，财报发布当日该公司仍面临全球性云服务中断事件的后续影响。

本季度微软资本支出达到创纪录的349亿美元，较第四季度的242亿美元显著增长，远超此前设定的300亿美元预算目标。这一巨额投入反映了公司为满足人工智能需求而进行的长期云基础设施建设。为回应投资者对AI泡沫的担忧，微软首次披露其商业剩余履约义务（RPO）加权平均合约期约为两年，该指标同比增长51%至3920亿美元，旨在向市场证明创纪录的资本开支具备坚实的长期客户需求支撑。

截至9月30日，微软季度营收达777亿美元，较市场普遍预期的753.9亿美元高出18%，同比增长率保持18%。公司表示这一增长主要受云服务与AI服务的强劲需求驱动。净利润实现277亿美元，折合每股收益3.72美元，高于市场预期的3.66美元。

值得关注的是，周三早间发生的Azure云服务中断事件波及全球客户，包括阿拉斯加航空、Xbox用户及Microsoft 365订阅用户。微软在午后声明中表示正在回退故障配置并逐步恢复服务。尽管周二上午宣布与OpenAI达成新合作后公司市值一度突破4万亿美元，但财报发布后盘后交易中股价下跌约3%。

中文翻译：

微软公司于周三公布本财年第一季度营收与利润数据，均超出分析师预期，其中Azure云服务营收增速攀升至40%。这份财报发布之际，该公司仍在应对当日早些时间发生的大范围云服务中断带来的持续影响。

本季度资本支出达到创纪录的349亿美元——这反映出为满足人工智能需求而进行的长期云基础设施建设。该数字较第四季度的242亿美元显著增长，也超出了微软此前预估的逾300亿美元第一季度资本支出。

伴随史无前例的基础设施建设，微软通过强调其商业剩余绩效义务（衡量未来合同收入的指标）来回应投资者对潜在AI泡沫的担忧。该合同储备额同比增长51%，达3920亿美元。公司首次披露这部分剩余绩效义务的加权平均合约期限约为两年，此举旨在向投资者表明创纪录的资本支出正受到强劲的长期客户需求支撑。

在截至9月30日的2026财年第一季度，微软营收达777亿美元，同比增长18%，高于分析师平均预估的753.9亿美元。公司表示该业绩得益于云服务与人工智能服务的强劲需求。净利润为277亿美元，合每股收益3.72美元，超出市场预期的每股3.66美元。

周三早间，Azure云服务中断事件影响了全球客户运营，涉及阿拉斯加航空、Xbox用户及Microsoft 365订阅用户。微软在午后表示正在回滚故障配置，客户应能感受到服务改善。

微软股价在盘后交易中下跌约3%。该公司于周二早间宣布与OpenAI达成新合作后，市值曾突破4万亿美元大关。

英文来源：

Microsoft reported fiscal first-quarter revenue and profits ahead of analysts’ expectations on Wednesday, with Azure revenue growth climbing to 40%.
The earnings report came as the company continued to deal with the lingering effects of a widespread cloud outage that started earlier in the day.
The company’s capital expenditures reached a record $34.9 billion — reflecting its long-term buildout of cloud infrastructure to meet demand for artificial intelligence. That was up from $24.2 billion in Q4. Microsoft had projected capital spending of more than $30 billion for Q1.
Along with that unprecedented buildout, Microsoft sought to address investor concerns about a potential AI bubble, by highlighting its commercial remaining performance obligation (RPO), a measure of future contracted revenue. That backlog grew 51% year-over-year to $392 billion.
The company also disclosed for the first time that this RPO has a weighted average duration of roughly two years, a move intended to show investors that its record capital spending is supported by strong, long-term customer demand.
Revenue was $77.7 billion for the quarter ended Sept. 30, Microsoft’s first quarter of fiscal 2026. That was up 18%, and compared with average analyst expectations of $75.39 billion. The company said the result was driven by strong demand for cloud and AI services.
Profits were $27.7 billion, or $3.72 per share, beating expectations of $3.66 per share.
Earlier Wednesday, an Azure cloud services outage disrupted operations for customers worldwide including Alaska Airlines, Xbox users and Microsoft 365 subscribers. Microsoft reported as of early afternoon that it was rolling back the faulty configuration and that customers should see improvements.
Microsoft stock was down by about 3% in after-hours trading. The company’s market value reached $4 trillion after the announcement of its new OpenAI deal on Tuesday morning.