Google Targets Bank Crypto Security Ahead of Alphabet Earnings

• Google is testing crypto security technology for banks, with commercial availability planned for early 2027
• Analysts expect Alphabet earnings of $3.03 per share on $127.9 billion in revenue, putting Google Cloud margins in focus
• Alphabet’s GOOG shares fell 4.58% from October 1–28, while Microsoft stock gained 3.81%, according to MarketCapOf’s comparison

Google wants a bigger role in how banks handle digital assets, giving investors another development to look at ahead of Alphabet earnings. The company’s crypto security plans come as Wall Street examines whether its expanding cloud business can generate profits fast enough to justify heavy investment. Alphabet stock has also trailed Microsoft this month. With both companies preparing to report, investors will soon have new numbers to judge how their spending is paying off.

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Google’s Crypto Security Push Targets Banks

Google Multi-Party Compute is being tested by financial institutions ahead of planned commercial availability in early 2027, according to reports. The service is intended to help banks safeguard and transfer cryptocurrencies and tokenized assets.

The Google crypto offering remains in private preview. Google has disclosed neither pricing nor the names of participating institutions. Alphabet has begun using the technology to secure digital assets on Ethereum and Solana, although it has not identified those assets or their value.

For Google, the opportunity is to supply infrastructure to banks developing their own custody businesses. It would enter a market already served by specialists including Fireblocks, Fordefi and BitGo. Whether that opportunity becomes a meaningful revenue source remains an open question.

Alphabet Earnings Put Google Cloud Margins in Focus

Analysts expect Alphabet’s third-quarter revenue to reach $127.9 billion, with earnings of $3.03 per share, according to reports. Those estimates imply roughly 25% sales growth but a smaller 5.6% increase in earnings per share.

S&P Global notes that Alphabet’s revenue expectations have increased since April, while profit expectations have been more subdued because of lower anticipated Google Cloud margins.

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Microsoft offers a useful comparison. TipRanks puts its fiscal first-quarter revenue estimate at $90.62 billion and earnings at $4.73 per share. Both companies are due to report on October 28, with investors watching cloud demand and the cost of adding computing capacity.

Alphabet Stock Trails Microsoft in October

MarketCapOf’s comparison for October 1–28 shows a hypothetical $2,000 investment in Alphabet’s Class C shares, trading as GOOG, declining to $1,908.33. That represents a 4.58% loss.

The same investment in Microsoft stock would have grown to $2,076.24, a 3.81% gain. Microsoft therefore outperformed Alphabet by approximately 8.40 percentage points over the period.

Alphabet heads into earnings trailing Microsoft this month. Google’s crypto service is still months from its planned launch, so investors will be looking to Google Cloud’s existing business for signs that profits are keeping pace with sales.

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