Economy / Markets
Three cloud giants report into a sceptical AI trade
Microsoft and Alphabet report after the close on 28 October, hours after the Federal Reserve's decision, and Amazon follows on 29 October. Microsoft guided to revenue of $89.85bn-$90.95bn and Azure growth of about 45% at constant currency; Amazon guided to $197bn-$202bn of net sales. Nasdaq consensus puts earnings per share at $4.71 for Microsoft, $2.94 for Alphabet and $2.01 for Amazon. Capital spending and the debt behind it are the questions hanging over the quarter.