Microsoft's fiscal third-quarter earnings for the period ended March 31, 2026, delivered revenue of $82.9 billion, up 18% year-over-year, and diluted earnings per share of $4.27, up 23%, fueled by 40% Azure growth reflecting robust AI infrastructure demand. However, shares sold off sharply post-release on April 30, closing at $407.78 amid concerns over elevated capital expenditures and OpenAI partnership uncertainties, erasing weekly gains from an April 28 open near $429. Traders pricing in sustained AI momentum against margin pressures saw a partial rebound to $414.44 on May 1 close, with broader tech sector rotation and macroeconomic rate expectations influencing volatility ahead of the market's weekly resolution.