Analysts Estimate Google Cloud Revenue Hits $2.2B as Alphabet Stays Silent
Alphabet continues to withhold exact Google Cloud revenue figures, but CEO Sundar Pichai shares promising growth metrics. Analyst firm Canalys estimates the cloud division brings in $2.2 billion for the quarter.
Google refuses to share exact cloud revenue figures, but the tech giant provides enough clues to suggest significant growth. CEO Sundar Pichai describes Google Cloud as a fast-growing multibillion-dollar business and highlights that the company more than doubles its million-dollar platform deals and multiyear contracts. Additionally, G Suite surpasses 5 million paying customers, indicating strong momentum in the productivity sector.
Alphabet's silence stems from a previous disclosure where a reported $1 billion quarterly revenue looked tiny compared to the $4 to $5 billion quarterly numbers posted by Amazon and Microsoft. CFO Ruth Porat mentions a nice uptick in deals greater than $100 million but strictly states that the company is not updating further on exact dollar amounts. This intentional vagueness leaves investors and industry watchers searching for answers.
To fill this information vacuum, analyst firm Canalys steps in with an estimated $2.2 billion in quarterly cloud revenue for Google. While Google avoids direct comparisons with its larger competitors, this estimated figure shows a substantial increase from the previous year's reported run rate. The growth occurs right as former Oracle executive Thomas Kurian prepares to take over the cloud division from outgoing leader Diane Greene.