Google parent Alphabet reported better-than-expected second-quarter earnings, bolstered by its advertising and cloud segments. Capital expenditures are projected to climb to $85 billion. CEO Sundar Pichai stated that AI is significantly impacting business operations. Search revenue showed double-digit growth, while YouTube and cloud services also reported impressive gains. The company achieved adjusted earnings per share of $2.31 and revenue excluding traffic acquisition costs of $81.2 billion. Advertising revenue was $71.3 billion, surpassing forecasts, with cloud revenue hitting $13.6 billion, exceeding expectations.
"AI is positively impacting every part of the business, driving strong momentum," CEO Sundar Pichai said in a statement.
Search delivered double-digit revenue growth, and our new features, like AI Overviews and AI Mode, are performing well.
For the quarter, Google saw adjusted earnings per share (EPS) of $2.31 on revenue excluding traffic acquisition costs (TAC) of $81.2 billion.
Advertising revenue came in at $71.3 billion versus expectations of $69.6 billion.
Collection
[
|
...
]