GCP burns massive amounts of cash and was a loss for many years. It just barely pulled a profit this year, though it looks more like some accounting tricks to make a small negative number look like a small positive one to make things look better during a downturn.
IIRC most of the public clouds changed their depreciation accounting recently. So all that cloud hardware is now good for 20 years instead of 10 years or something. Quite a boost to the old bottom line when you do that.
