TECH - Gene Munster Applauds Sundar Pichai's $100B Revenue Projection For Google Parent Alphabet: A Sign Of 'Entering A New Growth Phase' | Benzinga
Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) CEO Sundar Pichai has projected that the company’s YouTube and Cloud businesses will generate a combined revenue of $100 billion by 2024.
What Happened: The forecast was made by Pichai during the first quarter earnings, according to Gene Munster of Deepwater Asset Management, posted on social media platform X on Thursday. This projection suggests a 25% growth rate for each of the next three quarters, despite YouTube’s 21% and 28.4% growth in March.
Munster noted, “Maintaining growth rates around 25% despite larger numbers is a sign Google’s entering a new growth phase.”
Sundar said to 's Youtube and Cloud to exit 2024 at a combined revenue of $100B. — Gene Munster (@munster_gene) April 25, 2024
This implies 25% growth in each of the next three quarters, compared to YouTube up 21% and 28.4% in March.
Take away: Maintaining growth rates around 25% despite larger numbers is sign…