Microsoft capex, FY2025 Q2

Microsoft reported $22.6B of capex for FY2025 Q2, the quarter covering October to December 2024.

Microsoft sells Azure cloud infrastructure, business software and AI services to enterprises and developers. These figures cover Microsoft as a whole.

Capex, FY2025 Q2$22.6B

Announced29 Jan 2025

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Verified 11 Nov 2026

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Reported quarter: FY2025 Q2 1
Calendar quarter: 2024 Q4 1
Announced: 2025-01-29 1
“January 29, 2025”
Capex (USD million): 22,600 1
“$22.6 billion”
Cash capex (USD million): 15,800 1
“$15.8 billion”
Guidance detail: FY2025 Q3 and Q4 quarterly capex expected to remain at levels similar to FY2025 Q2; FY2026 capex growth expected below FY2025. 1
Capex definition: Company-wide capital expenditures include the full principal value of finance leases at commencement; cash PP&E payments are reported separately. 1

Sources

Microsoft investor relations: Microsoft FY2025 Q2 accessed 2026-11-11

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