Published on 25 Jul 2022 on Zacks via Yahoo Finance

Google Cloud Strength to Aid Alphabet's (GOOGL) Q2 Earnings

Alphabet’s GOOGL second-quarter 2022 results, scheduled to be released on Jul 26, are likely to reflect gains from its strengthening cloud service offerings.The company’s cloud services arm — Google Cloud — has become the key catalyst behind its business growth.Alphabet’s cloud offerings include Google Cloud Platform and Google Workspace, which have been continuously gaining momentum in the booming cloud computing market. Google’s growing investments in infrastructure, security, data management, analytics and AI have been major positives.The Google Cloud segment, which derives revenues from fees collected for Google Cloud Platform services and Google Workspace collaboration tools, has constantly been driving substantial revenue growth for Alphabet.Revenues from the segment were $5.8 billion in first-quarter 2022. The figure accounted for 8.6% of total revenues and exhibited year-over-year growth of 43.8%.For second-quarter 2022, the Zacks Consensus Estimate for Google Cloud’s revenues is pegged at $6.4 billion, suggesting growth of 38.6% from the prior-year quarter’s reported figure.Click here to know how the company’s overall second-quarter results are likely to be.

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