Cloud at triple digits: Google Cloud +103%, Azure +48%

Alphabet and Microsoft published quarterly results on the same day (28 October 2026), allowing a like-period comparison of their cloud businesses: July-September 2026.

The figures, as-reported:

• Google Cloud (Alphabet): $30.7 billion in revenue, up 103% year over year.

• Microsoft Azure: +48% year over year, with zero FX impact, meaning the 48% is the same as-reported and in constant currency.

• Microsoft Cloud as a whole: $63.9 billion, up 30%.

Methodological note: Azure is a product line within Microsoft Cloud, while Google Cloud is a full segment that includes both infrastructure (Google Cloud Platform) and Workspace. A direct comparison of the two growth rates has that limit; what is strictly comparable is the period and the reporting basis.

Sources: Microsoft, FY2027 Q1 earnings release (28/10/2026); Alphabet, Q3 2026 earnings release (28/10/2026).