Do the orders turn into · settles Oct 28 · 5 days
Microsoft reports: the share of backlog due within twelve months, 30% last quarter, and whether the near book's growth closes on the far book's 113%; at Alphabet, whether the TPU contracts inside cloud backlog get a size; at Meta, which reports October 21, whether the $10.8 billion of restricted cash stays restricted.
How it settlesRead the sentence in the 10-Q's revenue note that gives the percentage of revenue allocated to remaining performance obligations Microsoft expects to recognize over the next twelve months. Source: Microsoft Form 10-Q for the quarter ended September 30, 2026, revenue note on remaining performance obligations (SEC EDGAR, CIK 0000789019)
The exact question
Did Microsoft's quarterly report for the quarter ended September 30, 2026 put the share of its remaining performance obligations expected to be recognized as revenue within the next twelve months at 30% or less?
Funded, not forecast
Demand is contracted, prepaid or oversubscribed and supply is the constraint, so converting orders is a matter of shipping.
A backlog is a promise
Reported backlog overstates assured revenue: customers can exit, out-year buyers may lack the capital, and terms stretch to a year.
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