With Q2 Sales Growth of 82% and a Backlog of $514 Billion, Is Cloud Now a Bigger Growth Engine for Sundar Pichai's Alphabet Than Google's Search Business?
Google Cloud isn't the company's main breadwinner yet, but it's definitely moving the needle more than its other businesses.
Overview
While most people know Google parent Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) is a key player in the artificial intelligence industry, most investors also know that search-based advertising -- via Google -- remains its bread-and-butter business.
Still, it's tough to ignore the fact that Google Cloud's sales are soaring. They rose 82% year over year to $24.8 billion during the second quarter, and plenty more cloud revenue is already lined up. CEO Sundar Pichai said during the Q2 conference call that Google Cloud's backlog of future business stood at $514 billion.
Details
Is it time to rethink what Alphabet is? Not quite. But it wouldn't be wrong to put the possibility on your longer-term radar.
Source
Originally published at www.fool.com.