Google Cloud Q3 Earnings Preview: From AI, CFO To Profits
From profitability and generative AI to potentially a new CFO at Google, here are five important areas to watch during Google Cloud’s Q3 2023 earnings report on Tuesday.
CRN takes a deep dive on the five important things partners, investors and customers need to watch during Google’s third quarter 2023 financial earnings report.
The Mountain View Calif.-based $32 billion cloud computing giant is set to report the results for its Q3 2023 earnings on Tuesday at 5:30 p.m. ET.
Google Cloud’s Q2 Results And Biggest Q3 Launches
Before jumping into the most important things to watch for during Google’s earnings report tomorrow, it’s key to know about some of Google Cloud’s biggest launches over the past three months as well as the results from Q2 2023.
Google Cloud increased year-over-year revenue in Q2 2023 by 28 percent by generating $8 billion in revenue. The Alphabet cloud unit’s sales come from infrastructure and platform services via the Google Cloud Platform (GCP), collaboration tools from Google Workspace, as well as other enterprise cloud services.
At Google Cloud Next in August, the company launched a slew of new products—from a new networking platform and BigQuery Studio to more than a dozen artificial intelligence offerings via Vertex AI and Duet AI. Duet AI was injected into some of Google Cloud’s most popular offerings and Vertex AI received new generative AI capabilities. Additionally, the company also elevated its strategic partnerships in Q3 with AI market leaders like Nvidia.
“We are in an entirely new era of digital transformation, fueled by GenAI,” said Google Cloud CEO Thomas Kurian at Google Cloud Next 2023 in August. “This technology is already improving how businesses operate and how humans interact with one another. It’s changing the way doctors care for patients, the way people communicate, and even the way workers are kept safe on the job. And this is just the beginning.”
Here are the five biggest things to watch for during Google’s earnings report on Tuesday.