Cloud News
Mark Haranas
From operating losses and sales growth to a hiring freeze, here are the five biggest things to watch for during Google and Google Cloud’s third-quarter financial earnings tomorrow.
5 Things to Know Ahead of Google’s Q3 Earnings
Google is set to release financial results for Google Cloud’s third quarter on Tuesday with high expectations for the roughly $24 billion cloud company.
The big questions revolve around Google Cloud’s hiring status, the company’s recent acquisition of cybersecurity superstar Mandiant, and whether sales growth can continue to increase at such a rapid pace.
Google Cloud sales have been weak since CEO Thomas Kurian took over the reins in late 2018.
When he first arrived, Google Cloud generated $5.8 billion in total sales in 2018. In the second quarter of 2022 alone, the Mountain View, Calif.-based cloud company earned $6.3 billion in total sales.
[Related: 5 Ways Google Cloud Differs From AWS, Microsoft: Channel Chief]
Google Cloud Momentum
Google Cloud held its annual Google Cloud Next 2022 conference this month where the company unveiled several new cloud technology offerings, including new BigQuery solutions, Workspace and virtual machines and Google partner incentives.
Google Cloud has also unveiled several new strategic partnerships such as Accenture and ServiceNow as the company strives to have the world’s most open cloud ecosystem and platform.
The company’s global channel head Kevin Ichhpurani said customers and channel partners are flocking to Google Cloud because of its openness, partner-centric go-to-market mantra and momentum of customer cloud innovation.
“If you look at what customers are doing today, they’re using analytics and AI to change their business process or invent a new business model,” Ichhpurani said. “They’re not just moving VMs to the cloud, but they’re modernizing those applications to support a new business process. Data and AI and app modernization are where the puck is going—and these are Google Cloud’s sweet spots.”
Google’s earnings for its third quarter 2022 are scheduled for Tuesday, Oct. 25 at 5 pm ET after the markets closed with top Google executives including CEO Sundar Pichai in attendance to weigh in on the results.
Here are the five biggest things Google Cloud customers, partners, and investors should watch out for.
Mark Haranas