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Formats

-Format applies to axis, tooltip and labels; -LabelFormat to value labels only (default: the short form of -Format for numbers of 10,000 and more). -XFormat formats a value x axis. Numbers and dates use the browser's language or -Locale (e.g. de-DE).

A time axis without -XFormat (line, area, bar over dates, gantt, themeriver) labels its ticks in the same locale: times between day boundaries, the date where a day starts ("23:00, 5. Nov., 01:00" with de-DE, "23:00, Nov 5, 01:00" with en-US), the month or the year at those boundaries of a coarser axis. Boundaries are bold.

Format Shows
number, number:2 a number, with that many decimals
integer a whole number
currency, currency:USD, compactcurrency:EUR an amount, in the locale's or the given currency, short for large amounts
percent 0.25 as 25 %
percent100 25 as 25 % (percent100:1 with one decimal)
compact 1.2M
bytes a size in bytes, with a unit
duration, duration:min, duration:h seconds (or minutes, hours) as a duration
date, datetime, time a date or time in the reader's language
text as it is

PowerShell sends no functions to the browser, so formats are names; a format string is never run as code.