Google Cloud's sales doubled to $30.7 billion in a quarter. Alphabet's profit still fell to $26.2 billion from $35 billion.
Google Cloud reported third-quarter revenue of $30.7 billion, up 103% from $15.1 billion a year earlier, The Stack and SiliconANGLE reported on 28 and 29 October.
Operating income rose to $11.1 billion from $3.6 billion.
Parent Alphabet missed analysts' estimates for both sales and profit, SiliconANGLE reported. It was the first such miss in almost four years. Net income fell to $26.17 billion from $34.98 billion. The shares fell more than 9% after hours.
Alphabet's long-term debt rose to $125.1 billion from $21.6 billion a year earlier. Free cash flow was negative $9.07 billion. It still plans capital spending of $195 billion to $205 billion this year.
Google Cloud CEO Thomas Kurian cited "extraordinary demand and strong growth from AI labs, capital markets, financial service institutions and enterprises."
AI labs come first in that list. Forrester analyst Tracey Woo questioned how much demand comes from ordinary companies and how much from a handful of AI firms, SiliconANGLE reported.
Sources
Our file on Google Cloud
- 26 Oct
Google built an engine for waiting AI agents. Customer preview comes later.
- 23 Oct
OpenAI said its models will reach 3 clouds in the coming weeks. Procurement teams check whether terms differ.
- 22 Oct
Google Cloud lost one London zone. HSBC users reported problems.
- 20 Oct
Cognizant assigned 18,000-plus staff to build Google AI agents for clients. Terms were undisclosed.
- 9 Oct
Google asked firms to hand work to one Gemini agent. It named no price.
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