Google Cloud's Revenue Grew by 82% Year Over Year, Outpacing Amazon and Microsoft
In the quarter ended June 30, 2026, Google Cloud reported an impressive year-over-year revenue growth of 82%, with operating income rising even more sharply at 212%. This outpaced both Amazon Web Services (AWS) and Microsoft Azure, which grew by 37% and 43%, respectively. Despite the overall market share held by AWS, Azure, and Google Cloud remaining steady at around two-thirds of the global cloud services sector, Google gained a 2 percentage point increase in its own share over the past year. The growth is attributed to rising demand for AI infrastructure and solutions across all three platforms. However, investors are showing impatience with how much capital these companies must spend on data centers and AI development. Amazon raised its full-year capex forecast by 10% to $220 billion, while Alphabet increased its guidance by about 8.1% to $200 billion. Microsoft kept its capex unchanged at $175 billion after an accounting adjustment. Alphabet's stock dropped 7% following the earnings report despite strong cloud growth, suggesting investor concerns over capital intensity and returns.
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Topics: Amazon Web Services (AWS) cloud computing Google Cloud market share Microsoft Azure