Microsoft Shares Soar 22% on Record-Setting Order Backlog and Azure Growth

Microsoft (NASDAQ:MSFT) shares surged 22% after revealing its massive $678 billion order backlog. This figure represents an 84% increase from last year, with approximately $203 billion expected to convert into revenue within the next twelve months.

The company's market capitalization rose by about $617 billion over the week, with Thursday's session accounting for a record single-day gain of almost $450 billion.

Microsoft's forecast Azure revenue growth of 45% on a constant currency basis exceeded consensus estimates of 40.92%. The company's commercial remaining performance obligations (RPO) climbed to $678 billion, reflecting the substantial demand for its services.