1.0 billion Google Drive users
Google (GOOGL) achieved several milestones in its cloud computing arm in the third quarter. In addition to adding big names such as Broadcom (AVGO), Google said its cloud storage service, Google Drive, achieved a milestone of 1.0 billion monthly active users.
Google Drive is part of Google’s G-Suite, which is a cloud-based collection of productivity and collaboration apps offered on a paid subscription basis. G-Suite’s other component, Gmail, crossed 1.5 billion monthly active users in the third quarter.
4.0 million paying G-Suite customers
Google started the year with 4.0 million G-Suite paying customers. G-Suite charges start at $10 per user, per month. Google doesn’t report its cloud revenue as a separate item. Instead, cloud sales are reported under “Google Other Revenues” (which also include hardware sales), making it difficult to compare Google’s cloud performance with its peers’. However, the Google segment that houses the cloud business registered a 27.8% YoY (year-over-year) increase in revenue to $4.6 billion in the third quarter.
Cloud revenue grew 46% at Amazon
Google has previously said its cloud business averages $1.0 billion in quarterly revenue. Amazon (AMZN), the world’s top cloud company, reported 46% YoY growth in its cloud business to $6.7 billion in revenue. Microsoft (MSFT) and Alibaba (BABA) grew their cloud revenue by 76% and 90% YoY, respectively, in the third quarter, while IBM’s (IBM) cloud revenue dipped ~2.0% YoY.