Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessAs a result of cloud revenue missing projections, Alphabet's stock is experiencing...

As a result of cloud revenue missing projections, Alphabet’s stock is experiencing its worst day in a year.

Add to Favorite
Added to Favorite
Cloud Image-Image by Pexels from Pixabay Google Image Clovis_Cheminot

Alphabet witnessed its most significant one-year drop in share value on Wednesday as its Google Cloud unit’s revenue fell short of analyst expectations.

During midday trading, the company’s stock plunged by nearly 9% to $126.51. This marked its most significant decline since a 9.1% drop on October 26, 2022, following an earnings disappointment.

Interestingly, despite surpassing Wall Street’s revenue and earnings per share forecasts, Alphabet’s stock took a hit. The disappointment stemmed from Google’s cloud division, in stark contrast to Microsoft’s results, which showcased impressive growth in its Intelligent Cloud business. Google reported cloud revenue of $8.41 billion, falling short of Street Account’s estimates of $8.64 billion.

Microsoft emerged as the victor by revealing stronger-than-anticipated growth in its Azure business, attributed to the success of its AI solutions. Conversely, Google reported slower-than-expected growth in its cloud business, even though it had invested heavily in its AI endeavors.

Google’s cloud division currently occupies the third position, trailing behind industry leaders Amazon and Microsoft. The integration of AI is considered a way to accelerate the segment’s growth. However, at least for this quarter, it didn’t satisfy Wall Street’s expectations.

In its first quarter, Microsoft disclosed a 29% growth in its Azure segment, marking a significant re-acceleration. This outpaced Wall Street’s projections of 27% and contrasted with the earlier quarters, where sequential growth had declined.

Despite the contrast in cloud performance, Google is not facing dire consequences. Some analysts were swift to emphasize that Google’s cloud revenue takes a back seat compared to its advertising business, which remains the primary focus.

Celebrity WEB Update— Premier Jewelry designer and manufacturer fashion house ParisJewelry.com has started manufacturing a new custom line of celebrity jewelry designs with 30% Off and Free Shipping. Replenish Your Body- Refilter Your Health with OrganicGreek.com Vitamin Bottles, Vitamins and Herbs. Become a  WebFans  Creator and Influencer. Check the New Special XMicro Razors for Men & Women, 1 Razor, 7 Blade Refills with German Stainless Steel, Lubricated with Vitamin E for Smooth Shave, Shields Against Irritation, Version X

 

 

 

Subscribe to get Latest News Updates

Latest News

You may like more
more

U.S. House Votes to Allocate $3 Billion to Remove Chinese Telecom Equipment

The U.S. House of Representatives is preparing to vote...

ECB December Meeting Preview: Rate Cuts and Revised Projections in Focus

The European Central Bank (ECB) is expected to reduce...

Weekly Upgrade Round-Up: Major Analysts Boost Market Sentiment for Key Stocks

This week saw several prominent companies receive notable upgrades...

Gucci Faces Uphill Battle as 2025 Approaches: UBS Analysts Skeptical

Gucci, the flagship brand of Kering (EPA:PRTP), remains a...