- Google Cloud’s revenue increased from $5.82 billion in Q1 2022 to $7.45 billion in Q1 2023, indicating strong revenue growth.
- Google Cloud’s operating income improved significantly, moving from an operating loss of $706 million in Q1 2022 to an operating income of $191 million in Q1 2023.
- Positive Turnaround: The positive turnaround in operating income suggests that Google Cloud has become more profitable and efficient in its operations, and it also shows how important it’s the Google Cloud segment in the current AI race.
Increased contribution of Google Cloud on Google
- In Q1 2022, Google Cloud contributed $5.82 billion to total revenues, representing approximately 8.6% of total revenues ($5.82 billion / $68.01 billion).
- In Q1 2023, Google Cloud contributed $7.45 billion to total revenues, representing approximately 10.7% of total revenues ($7.45 billion / $69.79 billion).
- The contribution of Google Cloud as a percentage of total revenues increased by approximately 2.1 percentage points, indicating strong growth in its contribution to overall revenue.
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