Silicon Republic October 25, 2023
Google Cloud underperforms while Microsoft beats expectations and continues to ride the AI wave.
Big Tech earnings are never not impressive, considering the sheer amount of money we’re dealing with.
Both Microsoft and Alphabet have posted their latest earnings reports with percentage increases in revenue in the lower double-digits and net incomes well above that. But while Microsoft has exceeded investor expectations in the increasingly important and competitive cloud space, Google disappointed investors with relatively weak cloud-computing sales.
This is even though Google parent company Alphabet reported its strongest business growth in more than a year with third quarter revenue up 11pc to $77bn and net income up 42pc to nearly $20bn.
Google cloud services, however, which is the backbone...
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