Search and news advertising
Search advertising revenue excluding traffic acquisition costs grew 10% in the June 2026 quarter. Management expects mid-single-digit growth in the September quarter.
The numbers
Search advertising revenue excluding traffic acquisition costs growth10% (9% in constant currency)Q4 FY26 (Apr-Jun 2026) · source ↗
What it is
Bing, Microsoft Start and Microsoft Advertising. Ad revenue is recognised inside More Personal Computing.
Why it matters to the stock. Search share is a competitive question against Google, and AI answers change ad economics. Management said growth was helped by higher revenue per search and volume, and held back by third-party partnerships.
News
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