Alphabet and Microsoft report quarterly results after the close on Wednesday, October 28, with investors watching whether AI cloud demand justifies heavy infrastructure spending. Zacks expects Alphabet to post Q3 EPS of $2.94, up more than 2%, with revenue excluding traffic acquisition costs rising nearly 28% to $111.8 billion and Google Cloud revenue up 92% to $29.15 billion. Alphabet forecasts annual capital spending of $195-$205 billion. Microsoft is expected to report fiscal first-quarter EPS of $4.71, up 14%, and revenue of $90.58 billion, up more than 16%, with Azure growth guided to 44-45% in constant currency. The article adds that quarterly capital expenditures could exceed $50 billion, and that higher depreciation and AI infrastructure costs could pressure cloud margins.
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GOOGLMSFTearningscloud computingartificial intelligence
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Related tickers and likely impact
GOOGL
▲ Likely positiveAlphabet Inc. (Class A)
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/26/2026 | 316.80 |
| Change that session | -1.06% |
MSFT
▲ Likely positiveMicrosoft
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 10/26/2026 | 532.60 |
| Change that session | +1.54% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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