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Google Cloud on track to take on AWS and Microsoft Azure 4 hours ago Continuing to bank on the generational shift to digital, Google’s parent Alphabet reported revenues of $55.3 billion, a 34% jump from the same period last year, and a record-breaking profit of $18 billion for the first quarter of 2021. As usual, Google’s ad revenues take up the lion’s share thanks to an increase in brands’ ad spends to leverage the steady growth in consumer online activity, but other segments noted significant improvements as well. Google Cloud records higher revenue and lower losses Google began reporting Cloud as a separate segment last quarter to underscore its importance in the company’s future. Google Cloud Platform (GCP) and Google Workspace fall under this segment. ....
Operator Welcome everyone, and thank you for standing by for the Alphabet First Quarter 2021 Earnings Conference Call. [Operator Instructions] I d now like to hand the conference over to your speaker today, Jim Friedland, Director of Investor Relations. Please go ahead. Jim Friedland Director of Investor Relations Thank you. Good afternoon, everyone, and welcome to Alphabet s first quarter 2021 earnings conference call. With us today are Sundar Pichai, Philipp Schindler and Ruth Porat. Now, I ll quickly cover the Safe Harbor. Some of the statements that we make today regarding our business, operations, and financial performance, including the effect of the COVID-19 pandemic on those areas, may be considered forward-looking, and such statements involve a number of risks and uncertainties that could cause actual results to differ materially. For more information, please refer to the risk factors discussed in our most recent Form 10-K filed with the SEC. ....
Google Cloud’s first-quarter revenue jumped nearly 46 percent to US$4.04 billion from the same period last year, as parent company Alphabet’s overall performance blew away analyst estimates. “We continue to see strong performance across both Google Cloud Platform (GCP) and Workspace…with GCP’s revenue growth rate once again meaningfully above cloud overall,” Alphabet and Google CEO Sundar Pichai said during an earnings call with analysts today. “We’ve continued to unlock the value of the Google ecosystem by signing multi-year, multi-product partnerships with companies like Global Payments and Grupo Globo. And just yesterday, we announced a new Google-wide partnership with Univision, which is migrating to our cloud.” ....
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