Thomas Kurian, President of Google Cloud Alphabet, will speak at the Google Cloud Next conference in San Francisco on April 9, 2019.
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Google’s cloud industry reported an operating loss of $ 5.61 billion in 2020. It generated $ 13.06 billion in revenue for the year.
This is the first time the company has revealed the operating revenue metric for their cloud business.
The loss of the unit seems to be growing as the company invests heavily in retailers. The company reported that the cloud unit lost $ 4.65 billion to $ 8.92 billion in revenue in 2019, and lost $ 4.35 billion to $ 5.84 billion in revenue in 2018 .
It lost $ 1.24 billion on revenue of $ 3.83 billion in Q4 2020.
Alphabet’s latest attempt to show seriousness about its cloud unit is coming as it seeks to diversify revenues, which are largely from advertising, an industry that has shown vulnerability. in 2020 – especially in the second quarter. Google Cloud includes data infrastructure and analytics platforms, collaboration tools such as Google Docs and Sheets, and “other services for enterprise customers.”
Wall Street has been seeking additional financial details about the company’s cloud business, which Google has pumped resources to grow while in third place distant to Microsoft and Microsoft. Google started breaking out cloud revenue for the first time, a year ago.
The company’s previous efforts to strengthen its cloud unit under CEO Diane Greene, who passed away in 2018, have failed to capture much of the market share. However, since Oracle vice president Thomas Kurian joined Google to lead its cloud efforts in 2019, the company has continued to hire and acquire sprees.