WW 995: The Greatest Depression - Microsoft Reports $90 Billion in Revenue for FY26 Q4
Summary
Recorded live from Black Hat 2026, hosts Leo Laporte, Paul Thurrott, and Richard Campbell analyze Microsoft’s recent earnings. They discuss Azure’s resurgence as the top revenue driver, a massive stock rally, and controversial accounting changes that hide AI infrastructure costs. The episode also covers declining Personal Computing revenues, Xbox performance, and comparisons to Google’s financial struggles.
Topics discussed
Intro: Black Hat Vegas and Microsoft Earnings Overview
Microsoft's AI Accounting Changes and Spending
PC Market Decline and Windows License Stockpiling
Xbox Strategy, Phil Spencer, and Gaming Business
Travel Mishaps and AI's Impact on Software UI
Windows 11 Updates, Reliability, and Phone Link
AMD vs Intel, Apple Earnings, and Copilot Coding
New Xbox Console, Game Pass, and Physical Media
Markdown History and LibreOffice Discussion
Nevada History, Whiskey Distilling, and Outro
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