Google Cloud is killing it
paas and iaas
It's Alphabet's fastest-growing business and now makes up more than a fifth of the juggernaut's revenue and operating profit
Since the beginning of the year, several people have remarked to me off the cuff, apropos of nothing in particular: "Google Cloud is killing it."
Parent company Alphabet reported Q2 earnings [PDF] after the bell on Wednesday and the numbers speak for themselves. Let's go to the tape:
- Google Cloud revenue was up 82 percent from the same quarter last year, increasing from $13.6 billion to $24.8 billion.
- Google Cloud operating income more than tripled during the same period, going from $2.8 billion to $8.8 billion.
Once the distant-third-place laughingstock of the IaaS platforms, Google's cloud business is now the growth engine of Alphabet and a significant contributor to the company's overall business, making up 21 percent of revenues and 22 percent of operating income.
How'd this magic...
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