Need to contact Cobens Direct? Please visit our contact page: cobensdirect.co.uk/contact or you can call us on 0203 301 1242. Our office hours are: 9:00AM - 5:30PM Monday to Thursday 9:00AM - 5:00PM Friday We are closed on UK bank holidays.

Previously we updated the dashboard at around 9.30am. Going forward the system will be updated between 11am and midday. This is because the files from WBS don't arrive until 8.30am.

Thank you

[image: 1793259784949-screenshot-2026-10-29-at-07.41.48.png] Microsoft's Earnings: AI Spending Is Delivering Exceptional Growth Microsoft delivered another outstanding quarter, comfortably beating expectations on revenue, earnings and Azure growth, demonstrating that the AI infrastructure investment cycle is translating into substantial commercial returns. Q1 FY2027 revenue increased 19% to $92.3 billion, while operating profit rose 21% to $45.9 billion, representing an exceptional operating margin of nearly 50%. Adjusted EPS reached $4.89, up 18%. Azure was the standout performer, with revenue surging 48% year-on-year to $33.2 billion. Microsoft Cloud revenue reached $63.9 billion, growing 30%. Perhaps most impressive is Microsoft's $677 billion commercial backlog, up 73%, providing extraordinary forward revenue visibility as contracted demand converts into recognised revenue. Microsoft generated $58 billion in quarterly operating cash flow and $18.6 billion in free cash flow, despite investing heavily in AI infrastructure. Capital expenditure, including leases, reached $45.2 billion, with spending expected to exceed $50 billion next quarter. Azure growth is forecast to accelerate further to 49–50%. The key takeaway: Microsoft is simultaneously delivering accelerating AI demand, exceptional profitability and enormous contracted future revenue. For NVIDIA, Micron and the wider AI infrastructure supply chain, Microsoft's continued investment represents another powerful confirmation of sustained demand.

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Hi As per my email yesterday the CGT reports are generated by the custodian and we are waiting for the API links form the new custodian to be finalised. Once that is done the reports will be back on the portal. In the meantime just drop me a message and I will run a manual report for you Cheers

@n5tew Good morning, to answer your questions, yes there are a handful of lenders that still offer offset mortgages, though they’re relatively niche now. With these, you only pay interest on your mortgage minus what’s in a linked savings account, which can significantly reduce your interest costs if you hold a large savings balance. There are indeed fixed rate products although they will tend to be notably higher than your conventional fixed rate products. If you would like to discuss this in further detail, please let me know, my email is michael.searle@cobens.co.uk, or we can arrange a meeting to dive into specifics.

Thanks Nik