Google's cloud division saw muted third quarter growth and narrowing profit margins as Microsoft's rival Azure appeared to grab more market share.
shares slumped lower in pre-market trading after disappointing gains in its cloud computing division offset an otherwise solid set of third quarter earnings from the tech and ad giant.
Search and other revenues rose 11% to $44.03 billion while YouTube ad sales rose by an impressive 12.4% to $7.95 billion, and came in just ahead of Street forecasts. Google cloud revenues, however, were only up were up 22.5% at $8.41 billion. That was not only the slowest growth rate in more than two years but also notably shout of the 29% pace recorded by Microsoft's
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