Google-parent Alphabet's (GOOGL.O) cloud division missed estimates for third-quarter revenue on Tuesday as an uncertain economy and high interest rates forced companies to trim their budgets.
A sign is pictured outside a Google office near the company's headquarters in Mountain View, California, U.S., May 8, 2019. REUTERS/Paresh Dave/File Photocloud division missed estimates for third-quarter revenue on Tuesday as an uncertain economy and high interest rates forced companies to trim their budgets.
"Despite Alphabet topping quarterly earnings and revenue estimates, investors were disappointed by the relatively weak performance at its Google cloud platform, which is at risk of falling further behind Azure and AWS," Investing.com senior analyst Jesse Cohen. Alphabet reported a net profit of $19.69 billion for the July-Sept. period, compared with $13.91 billion a year earlier.
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