Alphabet reported 25% revenue growth in the third quarter of 2026, driven by Google Cloud's revenue doubling. Operating profit rose 30%, but net profit declined due to losses on securities investments.
Microsoft has named Azure's exact quarterly revenue for the first time — $33.2 billion for July–September, up 48% year over year. This makes it possible to directly compare the cloud with Google Cloud ($30.7 billion) and expectations for AWS.
Technology stocks led the decline amid growing doubts about the sustainability of the investment boom around AI. Seoul and Tokyo were hit hardest: Kospi lost almost 4%, Nikkei more than 1%. Oil is rising on supply disruption risks, including Ukrainian drone attacks on Russian refineries. Market attention is focused on Meta and Tesla earnings.
A power failure at a Google Cloud data centre near London on Tuesday caused disruptions at banks Revolut, Lloyds and HSBC, as well as retailers and delivery services. Google said the incident began at 06:08 GMT in the europe-west2 region and expected full recovery by 13:00 GMT.
On 20 October 2026, a power failure in Google Cloud's London region europe-west2 disrupted the operation of banks, courts and logistics services across the UK. Revolut reported disruptions worldwide. By evening, Google Cloud announced that services had been restored. On 20 October 2026, a power failure in the Google Cloud europe-west2 London region disrupted the operation of banks, courts and logistics services across the UK. Revolut reported outages worldwide. By the evening, Google Cloud announced that its services had been restored.