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.

 

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

 
 

(END) Dow Jones Newswires

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

Copyright (c) 2020 Dow Jones & Company, Inc.
Facebook (NASDAQ:FB)
Historical Stock Chart
From Nov 2020 to Dec 2020 Click Here for more Facebook Charts.
Facebook (NASDAQ:FB)
Historical Stock Chart
From Dec 2019 to Dec 2020 Click Here for more Facebook Charts.