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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Alphabet Inc.    GOOGL

ALPHABET INC.

(GOOGL)
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Google's Cloud Business Has Already Beaten 2019 Growth

10/29/2020 | 04:41pm EST

By Dan Gallagher

Speaking of cloud, Google's cloud business (much smaller than Amazon's) grew 45% year-over-year in the third quarter to $3.4 billion.

That came in a little ahead of the $3.3 billion analysts were expecting. It also means Google's cloud has generated more revenue in the first nine months of 2020 than it did in all of 2019. Alphabet Chief Executive Sundar Pichai said on the company's conference call that the company will begin breaking out Google Cloud as a separate reporting segment starting in the fourth quarter.

This gave a big boost to Amazon's stock price when the e-commerce giant began doing the same in 2015. The rub? Google Cloud is now more than twice as large as Amazon's Amazon Web Services business was then, which likely means it won't show the same kind of growth rates.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

10-29-20 1740ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 1.65% 1824.97 Delayed Quote.36.25%
AMAZON.COM, INC. -0.51% 3203.53 Delayed Quote.73.37%
APPLE INC. 0.29% 123.08 Delayed Quote.67.17%
FACEBOOK INC 0.34% 287.52 Delayed Quote.40.08%
TWITTER 1.20% 47.23 Delayed Quote.47.36%
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Financials (USD)
Sales 2020 179 B - -
Net income 2020 35 705 M - -
Net cash 2020 118 B - -
P/E ratio 2020 35,8x
Yield 2020 -
Capitalization 1 235 B 1 235 B -
EV / Sales 2020 6,26x
EV / Sales 2021 5,12x
Nbr of Employees 132 121
Free-Float 90,3%
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Technical analysis trends ALPHABET INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 47
Average target price 1 891,30 $
Last Close Price 1 824,97 $
Spread / Highest target 23,3%
Spread / Average Target 3,63%
Spread / Lowest Target -32,2%
EPS Revisions
Managers
NameTitle
Sundar Pichai Chief Executive Officer & Director
John LeRoy Hennessy Chairman
Ruth M. Porat Chief Financial Officer & Senior Vice President
Lawrence E. Page Director
Sergey Mikhaylovich Brin Director
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