Google Cloud's $3 billion quarter shows strong but slowing growth, even as Google reported its first quarterly revenue decline since going public
Alphabet reported earnings on Thursday, disclosing that Google Cloud generated over $3 billion in revenue — up 43% from the same period of last year.
On a call with investors, Google CFO Ruth Porat attributed the slowdown to price changes at G Suite, its productivity software suite. Ultimately, Google Cloud was one of the bright spots for Alphabet on this earnings report. While its earnings report slightly beat Wall Street expectations overall, Google saw its first quarterly revenue decline since going public, asrevenue of $31.6 billion — down from $31.7 billion over the same period last year.
"GCP maintained a strong level of revenue growth it delivered in the first quarter and its revenue growth was again meaningfully above cloud overall," Google CFO Ruth Porat said on the earnings call with investors.
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