Google Cloud brought in $4.047 billion in sales for the first quarter of 2021, Google’s parent company Alphabet reported recently. That’s up 46 % from $2.78 billion the previous year. The cloud business posted an operating loss of $974 million, compared with a loss of $1.73 billion in 2020.
- Google Cloud picks up speed: Google recently began disclosing Google Cloud’s operating losses, giving a better picture of how much Google’s promotional business continues to subsidize its cloud expansion. “We’re very pleased with the ongoing momentum in Google Cloud, with revenues of $4.0 billion in the quarter reflecting strength and opportunity in both GCP and Workspace,” Google and Alphabet CFO Ruth Porat said in a statement.
- Statistics fly sky high for Google: Google Services revenues attributed most of Q1 sales, with $51.18 billion in revenue, and advertising continues to generate the most revenue for Google. In Q1, Google ad revenues came to $44.68 billion, compared to $33.76 billion in Q1 2020.
- Revenue drives growth for Google: Porat also said that Google Cloud Platform’s revenue growth was once again soaring high above all. Workspace revenue was driven by growth in both seats and average revenue per seat. Alphabet in Q1 reported net income of $17.93 billion and diluted earnings per share of $26.29. Total revenues came to $55.3 billion, up 34 %.
- Correct Predictions of Wall Street: Google Cloud includes infrastructure and data analytics platforms, collaboration tools such as Google Docs and Sheets, and other services for enterprise customers. Google Cloud revenue grew 46% year over year to $4.05 billion, which was in line with Wall Street’s expectations. It lost $974 million during the quarter, significantly narrowing losses from the same period a year ago.
- Google on its way to pro-enhancement: “Over the last year, people have turned to Google Search and many online services to stay informed, connected, and entertained,” Google and Alphabet CEO Sundar Pichai said in a statement. “We’ve continued our focus on delivering trusted services to help people around the world. Our Cloud services are helping businesses, big and small, accelerate their digital transformations.”