Alphabet's Cloud Miss Dampens Stock as Microsoft Azure Shines

Alphabet's stock fell by 8% after the company reported third-quarter earnings that missed analyst estimates for Google Cloud revenue. While the company beat expectations for overall revenue and earnings per share, its cloud revenue fell short compared to Microsoft's earnings, which showed accelerated growth in its Intelligent Cloud business. Google's cloud revenue of $8.41 billion disappointed investors, who were hoping for stronger momentum, while Microsoft's Azure saw a 28% year-on-year growth. Analysts expressed concerns about Google potentially losing market share to Microsoft Azure and noted slower growth in Google Cloud compared to the previous quarter.