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Google Cloud revenue doubles to $30.7 billion as Alphabet shares fall 10%

First reported Source: NeowinLast editorial activity Write a comment ↓
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Google Cloud's revenue doubled and its operating income tripled, yet Alphabet's shares dropped 10% in after-hours trading as investors reacted nervously, according to a report by Neowin.

Cloud growth fails to calm investors

Neowin reports that Google Cloud's revenue doubled and its operating income tripled. Even so, nervous investors pushed Alphabet's shares down 10% in after-hours trading.

The report is the only source for these figures in the material available, so the market reaction should be read as Neowin's account of the session rather than as an independently confirmed movement.

About the company

Google is an Internet and software company based in Mountain View. It was founded in 1998 and is the parent of the Google Cloud business at the centre of this report.

Open questions

  • What caused investors to react nervously despite the strong cloud results?
  • Does the 10% after-hours fall hold when regular trading resumes?

Sources & evidence

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