Microsoft achieved better revenue in cloud than Google, recent quarters' earnings reveal
Google Cloud made $9,57 billion in revenue, compared to Microsoft's $26,71B.
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Key notes
- Microsoft and Google report strong earnings in recent quarters.
- Google’s Cloud revenue up 28% to $9.57 billion and Microsoft at $35.1 billion.
- Google’s overall Services revenue rises by 13%, targeting $100 billion from YouTube and Cloud by year-end.
It’s been a busy day for tech investors. Both Microsoft and Google, two of the biggest players in AI, have announced their recent quarters’ earnings. Microsoft announced a strong performance in Q3 of fiscal year 2024 thanks to cloud and AI, and at the same time, Google also said that it thrived in the cloud industry.
Alphabet, Google’s parent company, details in the recent quarters’ earnings document that its Cloud department scored $9,57 billion in revenue in Q1 2024. That’s a 28% increase. Microsoft, on the other hand, is a bit more superior this quarter with $35,1 billion in revenue for its cloud services.
“Our results in the first quarter reflect strong performance from Search, YouTube and Cloud. We are well under way with our Gemini era and there’s great momentum across the company,” says Google boss Sundar Phicai in the announcement.
In total, Google Services, which includes Cloud, YouTube ads, Search, Network, and even subscription services across different platforms, have seen about 13% increase from the previous number. All the services combined have now made $70,3 billion, compared to last year’s number of $61,9 billion. Both YouTube and Cloud are also expected to hit a $100 billion revenue by the end of the year.
Alphabet Inc. reported revenues of $80,5 billion in Q1 2024, a 15% increase compared to Q1 2023. Microsoft, on the other hand, scored $61,9 billion in revenue in the past quarter. That’s a $17 increase.
Google and Microsoft are racing to dominate the AI market, evident in their recent earnings calls where AI takes center stage. Google, the creator of Gemini, aims to put AI in your hands with innovations like Circle to Search, starting with recent Samsung Galaxy smartphones and Google Pixels.
Speaking of which, didn’t we mention that Microsoft has somewhat worked on this feature’s carbon copy?
