📉 Alphabet’s (GOOG) stock experienced its largest drop since March of 2020, declining more than 9% after Google Cloud’s revenue failed to meet analysts’ expectations.
🌩️ While Alphabet surpassed Wall Street’s revenue and EPS forecasts, its cloud revenue of $8.41 billion was short of the anticipated $8.64 billion. This contrasted sharply with Microsoft’s (MSFT) Intelligent Cloud segment, which reported accelerated growth.
🔍 Analysts expressed concerns about Google Cloud’s performance, especially in comparison to Microsoft Azure’s growth. Google Cloud’s growth rate was 22%, a decrease from the 28% growth in the previous quarter.