Microsoft blew past expectations in its fiscal first-quarter report , leading Wall Street analysts to become even more bullish on the hyperscaler. The company reported adjusted earnings of $4.89 per share, topping an LSEG estimate of $4.73 per share . Revenue came in at $92.28 billion — a 19% increase on a year-over-year basis and well above the $90.69 billion anticipated by Wall Street. The company also reported 48% growth in its Azure cloud infrastructure business for the same period. Microsoft executives told investors on Wednesday that they expect Azure to notch between 49% to 50% growth at constant currency for the fiscal second quarter, beating the 45.1% StreetAccount consensus estimate. Shares were up around 2% in premarket trading. The stock has rallied 36% over the past three months as Microsoft has continued building out its data center infrastructure to support widening artificial intelligence adoption. Deutsche Bank analyst Brad Zelnick said that infrastructure…