Alphabet (GOOG, GOOGL) and Microsoft (MSFT) are set to report quarterly earnings after Wednesday's closing bell, and the discussion focuses on the metrics investors will watch. Since the last report in July, Microsoft shares are up 36% after it showed its fastest cloud growth in four years, while Alphabet shares are down 6.3% after cash flow turned negative. For Microsoft, the focus is on capital expenditures, free cash flow, Azure demand and how Copilot is performing. For Alphabet, YouTube advertising revenue is expected to reach $11.34 billion, growing about 12% year over year. Microsoft is also reporting under a new two-segment structure, Agents and Infrastructure and Devices and Consumer.
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Related tickers and likely impact
GOOGL
• NeutralAlphabet Inc. (Class A)
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/27/2026 | 320.57 |
| Change that session | +1.19% |
MSFT
• NeutralMicrosoft
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 10/27/2026 | 531.60 |
| Change that session | -0.19% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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