Microsoft to Report Azure Revenue Quarterly Under New Structure

Microsoft is changing how it reports its finances to investors, moving from three business segments to two and disclosing quarterly revenue for Azure for the first time.

The company previously reported Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The new segments will be Agents and Infra, and Devices and Consumer.

Devices and Consumer will include LinkedIn search and advertising revenues, search advertising, Xbox revenue, and Windows OEM and devices. Agents and Infra will include Azure, Microsoft 365 Cloud, Microsoft 365 commercial and consumer, server products, industry solutions, and enterprise and partner services that Microsoft now calls frontier and support services.

Microsoft CEO Satya Nadella said AI is changing what the company builds and how it operates, while blurring boundaries between products and reshaping business models.

Under the new structure, Azure revenue will no longer include GitHub cloud and other developer cloud services, Security Copilot, or Healthcare and Life Sciences cloud revenues. Nadella said Azure will represent Microsoft’s consumption-based platform and infrastructure business more purely. Microsoft will begin using the changes for its first quarter fiscal 2027 earnings in late October.