Key takeaways
- Alphabet’s Q3 earnings were better-than-expected than most revenue and profits forecasts
- But cloud computing let the Big Tech giant down, with Microsoft pulling ahead
- Google’s share price fell 9.5% as a result
Thought Alphabet stock might be soaring after a solid earnings report? Think again. All that it took was Google’s cloud computing revenue to fall slightly short of expectations to send the stock price cratering.
From an investor perspective, it’s justified: Microsoft won in cloud computing for the third quarter, which invites questions over whether Google is managing to keep up in artificial intelligence development – and if it can outpace its long-time rival.
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