""So our remaining performance obligation, or backlog [as it] is now at $106 billion. It is growing faster than our revenue. More than fifty percent of it will convert to revenue over the next two years.""
""Cloud computing continues to grow as the primary vehicle through which enterprises deploy their core information technology systems,""
""Cloud, although it has grown, it's still in its early phase because a lot of machines and applications still run on-premises and have not yet moved.""
Google Cloud's remaining performance obligation, or backlog, stands at $106 billion and is growing faster than current revenue. More than fifty percent of that backlog is expected to convert to revenue within two years, implying roughly $53 billion in additional revenue by 2027. Google Cloud generated $13.6 billion in Q2 2025 revenue, up 32% year-over-year. By comparison, Azure reported $75 billion annual revenue at 34% growth and AWS reported $30.9 billion in Q2 2025 at 17.5% growth. Cloud adoption remains early as many machines and applications remain on-premises, shifting customer focus toward AI-enabled transformation solutions.
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