Google Cloud Nears Azure Revenue, but Microsoft Wins Over Investors

Google Cloud revenue more than doubled to over $30 billion with operating income tripling to $11.12 billion, closing in on Azure's $33 billion. Yet Alphabet shares fell nearly 10% on weak search ad growth, while Microsoft rose about 3%.

• Google Cloud revenue hit $30B vs Azure's $33B, which grew 48%
• Google Cloud operating income tripled to $11.12 billion
• Google search ad revenue rose 12% to $63.35B, slowest since Q2 2025
• Microsoft stopped disclosing Copilot's paying user count