The Top 10 Biggest Google Cloud News Stories Of 2023 (So Far)
From 12,000 Google layoffs to launching a completely new generative AI portfolio, here are the top 10 most important Google Cloud news stories of 2023 so far.
No. 9: Google Cloud Sales Grow Faster Than AWS, Microsoft
Google Cloud continued to grow revenue faster than its two larger cloud competitors, AWS and Microsoft, as sales increased 28 percent year over year during first quarter 2023. Both AWS and Microsoft grew cloud revenue at approximately the same rate during the quarter at 16 percent growth year over year.
Google Cloud generated total sales of $7.45 billion in the quarter, up from $5.82 billion revenue in first quarter 2023, while turning a profit for the first time ever. AWS’ total sales of $21.4 billion in first quarter 2023 represents a 16 percent increase year over year compared to $18.4 billion. Microsoft’s Intelligent Cloud segment generated revenue of $22.1 billion, up 16 percent compared to $19 billion year over year.
As of first quarter 2023, Google Cloud’s worldwide cloud services market share stands at 10 percent share, trailing Microsoft at 23 percent share, and AWS at 32 percent share, according to data from IT research firm Synergy Research Group.
The Takeaway : Although Google Cloud’s total revenue is smaller than AWS and Microsoft, Google has been growing its cloud sales at a faster clip over the past several quarters.