微软Q3财报：Azure收入超预期，裁员6万人控成本
Microsoft shares rose about 4% in after-hours trading after Azure revenue grew 4…
Azure高增长与大规模裁员并存，清晰折射出AI基建投入对利润的挤压及厂商战略取舍，是观察算力产业链现状的关键一手数据。
Microsoft shares rose about 4% in after-hours trading after Azure revenue grew 48% year on year to $33.2B, beating analysts’ $32.3B forecast.
在Azure收入同比增长48%至332亿美元，超出分析师323亿美元的预测后，微软盘后交易中股价上涨约4%。
> Data center spending reached $45.2B in the quarter, below Microsoft’s own forecast of more than $50B because of construction delays, and cut free cash flow 27% year on year to $18.6B.
> 数据中心支出在本季度达到452亿美元，低于微软自身超过500亿美元的预测，原因是建设延迟，自由现金流同比下降27%至186亿美元。
> Contracted future revenue reached $677B, up 73% year on year but slightly below the previous quarter’s $678B, and Microsoft gave no update on paid Copilot seats, last reported at 30M in July.
> 合同未来收入达到6770亿美元，同比增长73%，但略低于上一季度的6780亿美元；微软未对付费Copilot席位提供更新，上次报告为7月份的3000万。
> Microsoft is offering buyouts to up to 60,000 employees in the US, Canada, UK and India to control costs as AI infrastructure spending climbs, after headcount already fell 2% year on year.
> 随着AI基础设施支出攀升，微软正向美国、加拿大、英国和印度的最多6万名员工提供买断方案以控制成本，此前其员工人数已同比下降2%。
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