Prediction: Alphabet Will Report Google Cloud Revenue Growth Exceeding 100% on Oct. 28.
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) is set to report its third-quarter earnings on Oct. 28, and all eyes will be on the company’s cloud computing business. Google Cloud is on track to become the company’s largest driver of operating income growth in the next few quarters. And with the massive amount of capital management is piling into building more compute capacity, it’s become the biggest focus of investors, who want to see a good return on that investment.
After Google Cloud revenue growth accelerated to 82% in the second quarter, I predict the segment will more than double revenue in the third quarter. Here’s why, and what it means for Alphabet shareholders.
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