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Google Cloud ☁️
Google Cloud was defiantly the highlight of $GOOG 2023 Q1 earnings, largely because it derived its first profitable quarter.

  • Revenues were $7.5 billion for the quarter, up 28%.
  • Operating income of $191 million, operating margin was 2.6%

CEO, Sundar Pichai mentioned in the last 3 years GCP’s annual deal volume has grown nearly 500%, with large deals over $250 million growing more than 300%. There is defiantly a lot of demand for Google’s Cloud, nearly 60% of the worlds largest 1,000 companies are Google Clouds customers.

I’m interested to see if the profitability of Google’s Cloud business will continue from here. I feel like it could be a little wobbly for the next few quarters, being the first quarter of profitability, with a little help from accounting changes.

I’m still long $GOOG

Dave Ahern's avatar
Dave Ahern
@ifb_podcastApril 27
It is exciting though and will be interesting to see if it continues long term. Thanks for sharing 🙏
Rihard Jarc's avatar
Rihard Jarc
@rihardjarcApril 28
A lot of the profitability was because of extending the life of the servers and re-allocating some costs to other units but yes nonetheless still an important moment for Gcloud.
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