Google Cloud CEO: Customer spending surges 50% as cloud business performs far better than expected
[Google Cloud CEO: With cloud business performance far exceeding expectations Customer spending surged 50%] Thomas Kurian said: "Our existing customers have increased their spending after making commitments to us. Their actual spending is about 50% higher than the promised amount. This is due to the differentiated advantages of our product portfolio and our strength in marketing execution, which is also directly reflected in the double growth of our revenue and operating profit." This excess spending drove the explosive growth of its cloud business, and the revenue of this business unit soared 82% year-on-year.
Thomas Kurian said: "Our existing customers have increased their spending after making a commitment to us. Their actual spending is about 50% higher than the promised amount. This is due to the differentiated advantages of our product portfolio and our strength in marketing execution, which is also directly reflected in the growth of both our revenue and operating profit." This excess spending has driven the explosive growth of its cloud business, with revenue from this business unit soaring 82% year-on-year.