Google Cloud Is Growing…But So Are Its Losses

Google released income numbers for its cloud division for the first time, and the results are a mixed bag.
Google Cloud Is Growing…But So Are Its Losses
Written by Matt Milano

Google released income numbers for its cloud division for the first time, and the results are a mixed bag.

Google reported $13.1 billion in revenue for 2020, an increase from $8.9 billion in 2019. Losses increased as well, however, hitting $5.6 billion. In contrast, losses in 2019 were $4.6 billion and $4.3 billion in 2018.

While Google Cloud lost billions, it’s worth pointing out that its revenue growth outpaced its losses.

“Our strong results this quarter reflect the helpfulness of our products and services to people and businesses, as well as the accelerating transition to online services and the cloud,” said CEO Sundar Pichai. “Google succeeds when we help our customers and partners succeed, and we see significant opportunities to forge meaningful partnerships as businesses increasingly look to a digital future.”

“Our strong fourth quarter performance, with revenues of $56.9 billion, was driven by Search and YouTube, as consumer and business activity recovered from earlier in the year,” said Ruth Porat, CFO of Google and Alphabet. “Google Cloud revenues were $13.1 billion for 2020, with significant ongoing momentum, and we remain focused on delivering value across the growth opportunities we see.”

Subscribe for Updates

CloudPlatformPro Newsletter

The CloudPlatformPro Email Newsletter is the go-to resource for IT and cloud professionals. Perfect for tech leaders driving cloud adoption and digital transformation.

By signing up for our newsletter you agree to receive content related to ientry.com / webpronews.com and our affiliate partners. For additional information refer to our terms of service.
Get the WebProNews newsletter delivered to your inbox

Get the free daily newsletter read by decision makers

Subscribe
Advertise with Us

Ready to get started?

Get our media kit

Advertise with Us