Google's Cloud Business Has Already Beaten 2019 Growth

By Dan Gallagher

Speaking of cloud, Google's cloud business (much smaller than Amazon's) grew 45% year-over-year in the third quarter to $3.4 billion.

That came in a little ahead of the $3.3 billion analysts were expecting. It also means Google's cloud has generated more revenue in the first nine months of 2020 than it did in all of 2019. Alphabet Chief Executive Sundar Pichai said on the company's conference call that the company will begin breaking out Google Cloud as a separate reporting segment starting in the fourth quarter.

This gave a big boost to Amazon's stock price when the e-commerce giant began doing the same in 2015. The rub? Google Cloud is now more than twice as large as Amazon's Amazon Web Services business was then, which likely means it won't show the same kind of growth rates.

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(END) Dow Jones Newswires

October 29, 2020 17:40 ET (21:40 GMT)

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