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Microsoft (MSFT) Operating Expenses (2016 - 2025)

Microsoft (MSFT) has disclosed Operating Expenses for 17 consecutive years, with $10.4 billion as the latest value for Q4 2025.

  • Quarterly Operating Expenses rose 7.15% to $10.4 billion in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $41.1 billion through Dec 2025, up 5.97% year-over-year, with the annual reading at $39.7 billion for FY2025, 6.98% up from the prior year.
  • Operating Expenses hit $10.4 billion in Q4 2025 for Microsoft, up from $10.0 billion in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $10.8 billion in Q2 2025 to a low of $6.5 billion in Q1 2021.
  • Historically, Operating Expenses has averaged $8.8 billion across 5 years, with a median of $9.0 billion in 2023.
  • Biggest five-year swings in Operating Expenses: grew 28.55% in 2022 and later dropped 0.68% in 2023.
  • Year by year, Operating Expenses stood at $7.1 billion in 2021, then rose by 28.55% to $9.2 billion in 2022, then dropped by 0.68% to $9.1 billion in 2023, then grew by 6.81% to $9.7 billion in 2024, then increased by 7.15% to $10.4 billion in 2025.
  • Business Quant data shows Operating Expenses for MSFT at $10.4 billion in Q4 2025, $10.0 billion in Q3 2025, and $10.8 billion in Q2 2025.