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Google earnings: Analysts say Google Cloud can take on AWS, Microsoft - Business Insider

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Google Cloud is spending big to hire the right salespeople and developers, but analysts say the bet could pay off by making it more competitive with Amazon and Microsoft

in revenue. The same period of 2018 saw it rake in $1.7 billion, which means that Google Cloud's revenue grew 53% year-over-year. For the entire year, Google Cloud generated $8.9 billion in revenue, compared to $5.98 billion in 2018 – also a 53% increase.

In the interim, Wedbush Securities managing director Daniel Ives says that Google Cloud's first-ever financials are a promising sign that Thomas Kurian, who took over as CEO of the business a year ago, is on the right track. On the subject of building out, though, analysts note that Google Cloud has some investments to make along the way. First and foremost, Google Cloud's acquisition of data analytics company Looker has yet to close. Even then, though, Google Cloud has to live up to its goal of hiring the right people to chase its strategy.Wall Street's expectations on revenue, analysts are optimistic about Google Cloud's potential.

 

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