Microsoft (MSFT) has a reputation as a steady, low-drama earnings name — and historically that’s true, but there’s a wrinkle worth knowing. Below is its earnings behaviour based on the last 16 reports (roughly the past 10 years), as of July 2026.
MSFT earnings at a glance
Here’s the wrinkle: MSFT’s decade-long average earnings move is a modest ≈±5.3%, but the last two years have run hotter at ≈±7.1% — a heating-up regime rather than the sleepy name many traders assume. The tail is still contained (95th percentile ≈±10.6%), so Microsoft isn’t explosive, but treating it like its old, calmer self is how traders get caught offside.
Does MSFT beat its implied move?
This is the question that decides whether buying or selling premium has an edge. The implied move is what the options market prices in before the report; the actual move is what happens. For MSFT it leans slightly toward beating: the actual move has topped the implied move in about 59% of recent reports (roughly 10 of its last 17).
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How MSFT’s moves are distributed
The distribution is tight: half of MSFT’s earnings moves land within roughly ±4.7%, four in five stay under ±7.1%, and even the 95th-percentile outlier is about ±9.4%. With a standard deviation around ±2.7%, there’s little lottery-ticket character — the catch is that the recent two-year average (±7.1%) sits toward the upper half of that range.
Recent MSFT earnings
To make it concrete: in January 2026 Microsoft fell about −12.6% against an implied move of only ~5.2% — more than double what options priced in, and a vivid reminder that the “steady” reputation can break. The surrounding reports stayed inside the implied move, which is why the ~59% long-run rate, not any single quarter, is what to anchor on.
IV rush and IV crush on MSFT
Implied volatility builds into the report (the IV rush) and collapses afterward (the IV crush). With a ~59% beat rate, Microsoft’s history shows the crush cutting both ways rather than reliably favoring one side — the central tension in holding options through earnings.
What MSFT’s earnings data means for options
These figures are a reference point, not a signal. Microsoft’s actual move has landed above and below its implied move about equally often (a ~59% beat rate), and the ±9.4% 95th-percentile figure marks the realistic worst case any position would need to withstand — sized for the hotter recent regime, not the sleepy ±5% average. The practical use is to compare a given quarter’s live implied move against this history, and to understand how each structure behaves around that move: a straddle or strangle needs the actual move to exceed the implied to pay, while an iron condor or butterfly needs it to stay smaller. You can test any of them against Microsoft’s full history in the EarningsWatcher app rather than relying on a rule of thumb.
- Options had priced a ±8.6% move going into MSFT's July 29, 2026 earnings report.
- MSFT has averaged a ±5.3% earnings-day move across its last 40 reports (10-year history, per EarningsWatcher).
- MSFT's actual earnings move exceeded the options-implied move in 59% of those reports.
Frequently asked questions
When is Microsoft (MSFT) next earnings date?
Microsoft reported on Wednesday, July 29, 2026, after the market close (AMC).
What is MSFT's implied move for earnings July 29, 2026?
Options priced a plus or minus 8.6% move into the July 29, 2026 report. The realised move is published once the following full session completes. — compare it to the plus or minus 7.1% two-year average.
How much does Microsoft (MSFT) move on earnings?
Over its last 16 earnings reports (as of July 2026), MSFT's average earnings-day peak move was about plus or minus 5.0%, with a median near plus or minus 4.7%. The last two years have been more volatile at about plus or minus 7.1%. Tail risk: the 95th-percentile move is about plus or minus 9.4% (January 2026 peaked near minus 12.6%).
Does MSFT usually beat its implied move?
More often than not. MSFT's actual move has topped its options-implied move in about 59% of recent reports (roughly 10 of 17). Compare the live implied move to this history each quarter.