5 Things To Know Before Google’s Q3 Earnings
Google is set to release the financial results for Google Cloud’s third quarter on Tuesday with high expectations for the roughly $24 billion cloud company.
Big lingering questions revolve around Google Cloud’s employee hiring status, the company’s recent acquisition of cybersecurity superstar Mandiant, and if sales growth can keep rising at such a blistering pace.
Google Cloud has been on a sales tear since CEO Thomas Kurian took over the reins in late 2018.
When he first arrived, Google Cloud was generating $5.8 billion in total sales as of 2018. In the second quarter of 2022 alone, the Mountain View, Calif.-based cloud company captured $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 a slew of new cloud technology offerings, including new BigQuery, Workspace and virtual machines solutions and Google partner incentives.
Google Cloud also unveiled many new strategic partnerships such as with Accenture and ServiceNow as the company strives to have the most open cloud ecosystem and platform in the world.
The company’s global channel leader Kevin Ichhpurani says customers and channel partners are flocking to Google Cloud because of its openness, partner-centric go-to-market mantra and customer cloud transformation momentum.
“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,” said Ichhpurani. “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 it’s the sweet spots of Google Cloud.”
Google’s earnings for its third quarter 2022 is scheduled for Tuesday, Oct. 25 at 5 p.m. ET after the markets close 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 keep an eye on.
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Mark Haranas is an assistant news editor and longtime journalist now covering cloud, multicloud, software, SaaS and channel partners at CRN. He speaks with world-renown CEOs and IT experts as well as covering breaking news and live events while also managing several CRN reporters. He can be reached at [email protected].
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