Sundar Pichai Reported Alphabet's Cloud Revenue Grew 103% Last Quarter While the Gemini App Reached 1 Billion Monthly Users. Is Google Cloud Becoming a Bigger Growth Driver Than Search?
Alphabet reported Google Cloud revenue grew 103% year-over-year to $30.7 billion in Q3, while the Gemini App reached 1 billion monthly users. However, Google Search growth slowed to 12% from 17% in Q2, raising concerns about AI's impact on search monetization. Cloud is emerging as Alphabet's primary growth engine with a $561 billion customer backlog, but the stock fell 28% from its peak amid worries about search's long-term viability and massive capital spending pressures.


