From Seekingalpha · BloFin Research · · 30s
Google Cloud Doubled, Alphabet Stock Falls
Google Cloud revenue doubled as Alphabet shares dropped 10% after Q3 earnings.
In brief
Google Cloud revenue doubled as Alphabet shares dropped 10% after Q3 earnings. Alphabet shares fell 10% after Google Cloud revenue doubled to $30.7B in Q3. Originally reported by Seekingalpha.
Alphabet Q3 Earnings
Alphabet shares fell nearly 10% after its Q3 earnings, even as Google Cloud reported 103% revenue growth.
Google Cloud Performance
Google Cloud revenue more than doubled to $30.7B, with operating profit tripling to $11.1B.
Market Reaction
Microsoft and Oracle stocks gained 4% and 11% respectively, despite strong AI growth reports.
In short
Alphabet shares fell 10% after Google Cloud revenue doubled to $30.7B in Q3.
