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While Alphabet’s total revenues for the quarter stood at $64.05 billion compared to expectations of $63.04 billion, shares of Google went down by 5% in early hours due to the cloud numbers miss despite checking the revenue boxes on YouTube and its search engine.generated from its Intelligent Cloud unit, propelled mainly by a 29 percent rise in revenue from its Azure platform. This is attributed to the incorporation of generative AI into its products.
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Google-parent Alphabet's cloud division misses revenue estimates, as Microsoft’s cloud boomsGoogle-parent Alphabet's cloud division misses revenue estimates, as Microsoft’s cloud booms
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Alphabet falls 6% as operating income, cloud sales trail estimates; analysts lower numbersAlphabet falls 6% as operating income, cloud sales trail estimates; analysts lower numbers
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Microsoft surpasses Alphabet in cloud race with OpenAI bet, enterprise focusMicrosoft is outstripping Alphabet in the race to make money from generative artificial intelligence through early bets on OpenAI and focus on big clients, raising worries that the Google parent could lose share in the cloud-computing market.
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Microsoft's AI bets boost cloud business, Alphabet yet to find silver liningGoogle-parent Alphabet's (GOOGL.O) cloud business suffered as long-time rival Microsoft's (MSFT.O) took off in the September quarter, demonstrating early signs that the Windows maker's investment in artificial intelligence was paying off.
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Selling Alphabet shares after the tech giant missed on cloud numbers is shortsightedWe recognize that the near term could be a bit rocky — but over the long haul, we think patience will pay off.
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Alphabet's Cloud Division Misses Revenue EstimatesGoogle-parent Alphabet's cloud division missed estimates for third-quarter revenue Tuesday as an uncertain economy and high interest rates forced companies to trim their budgets.
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