Microsoft is overhauling how it reports financial results to investors, splitting its business into two new segments and, for the first time, disclosing quarterly revenue for its Azure cloud platform. The change reflects how deeply artificial intelligence has reshaped Microsoft's operations, according to chief executive Satya Nadella, who said AI is "blurring the boundaries" between the company's products and business models. Investors have long sought clearer visibility into Azure's performance, which Microsoft has historically only disclosed as a year-over-year growth percentage rather than a hard revenue figure.

The three existing segments — Productivity and Business Processes, Intelligent Cloud, and More Personal Computing — will be replaced by two: "Agents and Infra" and "Devices and Consumer". The former covers Azure, Microsoft 365 Cloud, server products, industry solutions and enterprise services, while the latter covers LinkedIn, search advertising, Xbox and Windows OEM revenue. Under the new structure, Azure's reported revenue will exclude GitHub cloud services, Security Copilot and Healthcare and Life Sciences cloud revenue, making it a purer measure of Microsoft's consumption-based infrastructure business. The changes take effect from Microsoft's first-quarter fiscal 2027 earnings report, due in late October.