YouTube brought in $6 billion for the quarter, more than 10% of its total quarterly revenue. Microsoft said revenue in its "Intelligent Cloud" segment rose 23 per cent to $15.1 billion, with 50 per cent growth in Azure. Total revenue for Google Cloud in Q121 was $4.05bn (£2.92bn), compared with $2.78bn for the first quarter of 2020. If you're in finance, you probably want the latest security quotes, stock prices of all US companies, and market summaries from S&P 500, DJIA, NASDAQ & NYSE, and other indices updates. While Cloud's growing scale should help improve its operating results, Porat said on a conference call Tuesday that Google continues to "invest to build the cloud organization for long-term performance. Google's parent company Alphabet on Tuesday announced its earnings report for the first quarter of 2021, posting strong revenue growth for its cloud … It comes one year after the company began breaking out revenue for the cloud business, which trails Microsoft and Amazon in market position. ", "Our approach to building the business has not changed," Porat said with respect to Cloud. Alphabet also reported that on April 23, its board of directors authorized the company to repurchase up to an additional $50 billion of its Class C capital stock. Total revenues came to $55.3 billion, up 34 percent. The company’s other segment revenue was $6.5 billion and Google Cloud revenue was $4 billion in the first quarter. "We've continued our focus on delivering trusted services to help people around the world. The numbers show that Google Cloud generated $13 billion in revenue last year. But this came at a $5.6 billion loss. It lost $1.24 billion on revenue of $3.83 billion in Q4 2020. "We remain focused on revenue growth, and we will continue to invest aggressively in products and our go-to-market organizations, given the opportunity we see.". Apply on company website. Google's cloud business reported operating loss of $5.61 billion in 2020. That's up 46 percent from $2.78 billion the year prior. We want to hear from you. It is the first time Google has revealed operating income for its cloud unit. The company said the cloud unit lost $4.65 billion on $8.92 billion in revenue in 2019, and lost $4.35 billion on $5.84 billion in revenue in 2018. lost $4.65 billion on $8.92 billion in revenue in 2019, and lost $4.35 billion on $5.84 billion in revenue in 2018. Show full articles without "Continue Reading" button for {0} hours. Google Sunnyvale, CA. The growth in … Like us on Facebook to see similar stories, Vaccines aplenty but some Californians struggle to get one, US eyes major rollback in Iran sanctions to revive nuke deal. If you're using CNBC, say, "Alexa, ask CNBC how are the markets doing?". Google Cloud’s first-quarter revenue jumped nearly 46 percent to $4.04 billion from the same period last year, as parent company Alphabet’s overall performance blew away analyst estimates. It's the first time the company revealed the operating income metric for its cloud business. Additionally, Google Cloud reported 43% growth and stood at … Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Overall, Alphabet in Q1 reported net income of $17.93 billion and diluted earnings per share of $26.29. Google Cloud brought in more revenue and narrowed its losses year over year and compared to last quarter. It brought in $13.06 billion in revenue for the year. As usual, Google Services revenues attributed most of Q1 sales, with $51.18 billion in revenue, and advertising continues to generate the most revenue for Google. While Google has only disclosed that in Q4 2017, the company’s cloud business exceeded $1 billion per quarter in revenue, estimates suggest that Cloud … The global shift to work from home has spurred demand for cloud-based computing, which is an advantage for Microsoft as well as its rivals including Alphabet Inc's Google Cloud and Amazon.com Inc's cloud unit. Got a confidential news tip? Thomas Kurian, CEO of Alphabet's Google Cloud, speaks at the Google Cloud Next conference in San Francisco on April 9, 2019. Alphabet Inc. today for the first time revealed numbers for two of its fastest-growing units, showing Google Cloud and G Suite revenue collectively jumped 53%, to $2.61 billion, and YouTube revenue ro YouTube continues to be a catalyst for the company's revenue … But, since former Oracle executive Thomas Kurian came to Google to lead its cloud efforts in 2019, the company has gone on hiring and acquisition sprees. Revenue Controllership Lead, Google Cloud Google Sunnyvale, CA 16 … Porat also said that Google Cloud Platform (GCP)'s revenue growth was once again "meaningfully above cloud overall." A Division of NBCUniversal. Alphabet's latest push to show it's serious about its cloud unit comes as it tries to diversify revenue, which primarily comes from advertising, a business that showed vulnerability in 2020 — particularly in the second quarter. Wall Street has been seeking additional financial details surrounding the company's cloud business, which Google has pumped resources to grow while in a distant third place to heavyweights Microsoft and Amazon. Google Cloud brought in $4.047 billion in sales for the first quarter of 2021, Google's parent company Alphabet reported Tuesday. “Over the last year, people have turned to Google … Our Cloud services are helping businesses, big and small, accelerate their digital transformations.". Sign up for free newsletters and get more CNBC delivered to your inbox. © 2021 CNBC LLC. You can do this by adding integrations like Bloomberg Market Data and News or Stock Exchange or CNBC. The company's past attempts to bolster its cloud unit under CEO Diane Greene, who left in 2018, failed to capture much market share. Google’s revenue, up 34% from the same quarter last year, was driven by a growth in advertiser revenue and revenue from Google Cloud, according to the earnings statement. Google Cloud meanwhile saw its revenues up 46% in the quarter, another COVID-19 winner at $4 billion. Google Cloud broke $4 billion in quarterly revenues at a yearly uptick of 46% – but while losses crept towards the billion dollar mark, things are going in the right direction. That's up 46 percent from $2.78 billion the year prior. Google Cloud has hit a $10 billion annual revenue run rate, Google said Monday as its parent company Alphabet reported fourth quarter fiscal 2019 results. 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