Google Cloud Q2 revenue $3 billion, up 43% year-on-year

July 31, according to the media reports, Google Cloud generated revenues of 3.007 billion dollars in the second quarter of 2020, an increase of 43 percent over last year.

Google Cloud Q2 revenue $3 billion, up 43% year-on-year

After the US stock market closed in the local time on Thursday, Google’s parent company Alphabet released its financial results for the second quarter of 2020, which ended on 30 June. According to the report, the company’s turnover in the second quarter was $38.3 billion, down 2% year-on-year, while net profit was $6.959 billion, down 30% year-on-year.

In the second quarter of this year, Google generated revenues of approximately $38 billion, including $3.007 billion through Google Cloud, which includes the Google Cloud Platform (GCP) and G Suite. This represents an increase of 43 percent year-over-year, compared to $2.1 billion in the same period last year, an increase attributable to GCP infrastructure products and data and analytics platforms. However, this growth rate is below the 52% growth rate recorded in the first quarter.

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Strong growth in Google’s cloud business helped Alphabet support a difficult quarter as Google’s search engine revenues and YouTube advertising revenues struggled to reach pre-epidemic levels.