Shen Zhen Shang Bao·2025-10-30 23:48Core Insights - Google leads in revenue with a record-breaking quarterly revenue exceeding $100 billion, while Microsoft shows strong growth, and Meta experiences a significant profit drop despite revenue growth [1][2]. Revenue Performance - Alphabet's Q3 revenue reached $1023.5 billion, surpassing analyst expectations of $998.53 billion [2]. - Microsoft's Q3 revenue was $776.7 billion, an approximate 18% year-over-year increase, exceeding the expected $755.53 billion [2]. - Meta's total revenue was $512.4 billion, with a 26% year-over-year growth, but net profit plummeted 83% from $15.69 billion to $2.71 billion [2]. Business Segments - Microsoft's commercial cloud revenue, including Office and Azure, was $491 billion, a 26% year-over-year increase, outperforming the expected $486 billion [3]. - Google Cloud revenue for Q3 was $15.157 billion, with CEO Sundar Pichai noting accelerating growth in this segment [3]. - Meta's advertising revenue, its primary income source, reached $50.08 billion, a 26% increase, exceeding market expectations [3]. Capital Expenditure - All three tech giants significantly increased capital expenditures, with Microsoft’s Q3 spending reaching $34.9 billion, exceeding expectations by over 8% and showing a year-over-year growth rate of over 74% [4]. - Meta's Q3 capital expenditure was $19.37 billion, with annual guidance raised to $70 billion to $72 billion [4]. - Google's capital expenditure for the quarter was approximately $24 billion, with full-year spending projected to reach $91 billion to $93 billion [4]. Competitive Landscape - The capital expenditure race among these tech giants indicates that AI will be a critical battleground for determining future market leadership [5].