Microsoft is set to report quarterly results after the market close on Wednesday.
For the fiscal first quarter, which ended on Sept. 30, Microsoft will be reporting under two operating segments for the first time since 1998. For the past 11 years it had three segments that divided up its Azure, Office and Windows businesses.
Microsoft will also begin disclosing Azure cloud revenue in dollars. Analysts polled by StreetAccount are expecting $32.32 billion, which would represent growth of more than 44%.
The software giant has been working to become a bigger force in artificial intelligence through infrastructure expansion and product enhancements, while continuing to produce free cash flow, unlike its fellow hyperscalers.
Cloud rivals Alphabet and Amazon, which report results on Wednesday and Thursday, respectively, both showed negative free cash flow in the June quarter, while Meta said last week that it went free cash flow negative in the third quarter.