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Google Cloud Revenue Jumps 45%
Google parent Alphabet reported earnings yesterday and stated that revenue from Google Cloud Platform (GCP) jumped 45% and showed an 80% growth in deal volume.
It also reported that it introduced 2,000 new cloud products and feature releases. While the company continues to report operating losses for GCP, it stated that it continues to invest in the platform based on seeing sizeable market opportunities.
While much of GCP revenue is infrastructure-focused, the company reports a solid cross-sector of clients from cloud-native companies to traditional enterprises. When viewed in the context of other major cloud players, this continues to signal a rising tide that will float all boats and make additional resources and capabilities tied to digital experience more accessible.
From Alphabet's earnings call transcript:
Our product leadership continues with more than two thousand new Cloud products and feature
releases in the last year. These were in four categories:
First, our Data Cloud and our AI/ML platform is helping organizations like Cartier, Groupe
Rocher, and Mitsubishi Heavy Industries understand and use their data intelligently across
multiple Clouds. Our fast, secure data sharing capability helps the National Cancer Institute
advance breast cancer research. Our unified Data Lake and Data Warehouse, which brings
together unstructured and structured data, helps Telus and Tyson Foods improve their
understanding of customers. And our AI/ML-platform helps CN deliver better customer
Second, our open multi-cloud infrastructure enables customers like BBVA and Wells Fargo to
run mission critical systems on our Cloud. We believe new auto-scaling in our Kubernetes
Engine, which allows customers to run fifteen thousand node clusters, outscales the competition
by up to 10 times. Our Edge Cloud helps us grow in Telecommunications, driving partnerships in
Q4 with Indosat Ooredoo Hutchison, Telenor and Verizon. They join existing customers and
partners including Ericsson, Reliance Jio and Nokia.