Google Cloud CEO Kurian says customers are spending 50% more as segment blows away expectations

Google‘s cloud chief Thomas Kurian said the company’s existing customers are shelling out “roughly 50% more” than they’ve already committed to spend on its products, which helped drive its red-hot cloud growth during the second quarter. 

“Our existing customers have increased their spend when they make a commitment to us,” Kurian told CNBC’s Jim Cramer on Thursday. “They’re spending roughly 50% more than the commitment, and so it comes down to the differentiation in our product portfolio, the strength we have in our go-to-market execution, and you see that in both top line and operating income growth.”

Kurian’s comments come after Google parent Alphabet posted stronger-than-expected revenue for the second quarter on Wednesday, helped by growth of 82% year-on-year in its cloud business.

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