Alphabet Boosted by AI, Cloud Demand
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Alphabet Inc.'s Q2 highlights AI-driven growth and cloud profitability. Click for our updated look at GOOGL earnings and the initiatives that make it a Buy.
The addition of AI Overviews to Google Search may be one reason why that business continues to show strength. It brought in more than $54.19 billion in revenue during the quarter, representing a good chunk of its overall $71.34 billion in advertising revenue. That was up 10.5% from $64.61 billion in ad sales in the same period last year.
Alphabet CEO Sundar Pichai has officially joined the global billionaire ranks as his net worth hits $1.1 billion, driven by surging stock prices and landmark AI investments under his leadership.
Analysts note new tax provisions could be giving the large technology companies more flexibility to invest in chips and other AI infrastructure.
Alphabet CEO Sundar Pichai praises a standout Q2 driven by AI-powered growth across divisions, with Google Search and Cloud showing strong momentum and boosting revenue.
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Google’s accelerating shift into artificial intelligence helped propel its corporate parent to another quarter of solid growth while a crackdown on its internet empire looms in the background.
Google parent Alphabet plans to spend $10 billion more in capital expenditures this year than previously anticipated as the company works to meet surging demand for Google Cloud.
Alphabet Inc. reported strong second-quarter earnings, exceeding Wall Street's expectations with a 14 percent revenue increase to $96.4 billion. Driven by growth in advertising and cloud businesses, the company is investing heavily in AI infrastructure.
Alphabet Inc. (NASDAQ:GOOGL) ranks among the best magic formula stocks to invest in. Robby Stein, VP of Product at Google Search, announced that Alphabet Inc.
Alphabet Inc. (NASDAQ:GOOGL) is one of the AI Stocks on Analysts’ Radar Right Now. On July 21, Wolfe Research analyst Shweta Khajuria reiterated an “Outperform” rating on the stock with a $190.00 price target.
Alphabet Inc. is set to release its second-quarter earnings on Tuesday. Analysts anticipate robust results, despite concerns over the impact of AI on the company's core search business.