Google Cloud Revenue Grew 63% Last Quarter. Here's Why That Number Matters More Than Alphabet's Ad Business Right Now.
Investors are focusing more on what could be the company's most important segment going forward.
Overview
Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) is a digital advertising juggernaut. That goes without saying. In the first quarter, it collected $77.3 billion in ad revenue, up 16% year over year and representing 70% of the company's total top line. This figure puts the business significantly ahead of its industry peer, Meta Platforms.
But Alphabet's Google Cloud division, which posted 63% year-over-year revenue growth in Q1, is the main attraction. That sales gain matters more than the company's advertising operations.
Image source: The Motley Fool.
Details
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Originally published at www.fool.com.
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