Google Cloud is already capturing this market and is ranked third among the cloud computing companies. The Cloud computing market is expected to grow from $405.7 billion in 2021 to $1.7 trillion by 2029 and has a CAGR of 20% over the next seven years. Google cloud revenue of $24.5 billion over the trailing 12 months has surpassed IBM’s $ 22.2 billion over the same time. This year the revenue has already hit $19 billion, a 39% YoY growth rate. Google Cloud revenue has been rising at jaw-dropping levels. Google Cloud is the flag bearer from Alphabet in the red-hot cloud computing market. Google Cloud – While Alphabet’s third-quarter results were lukewarm, there were few bright spots in the results. Google Stock Performance in the Last 12 Months Strong leadership: Alphabet has a strong leadership team, including CEO Sundar Pichai, who has been credited with leading the company through a period of sustained growth and innovation. This diversification makes the company less reliant on any single product or service, which can reduce its exposure to risk. The company has a strong presence in advertising, cloud computing, and hardware. It has a number of ambitious projects in areas like AI, autonomous vehicles, healthcare, and renewable energy, which could provide future growth opportunities.ĭiversified revenue: Alphabet has a diversified business model. Innovation and investment: Alphabet is known for its innovation and investment in new technologies and ventures. The company maintains a history of strong financial performance, with consistent revenue growth and high-profit margins. Strong financials: Alphabet as a company has been highly profitable for most of the time.
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