Alphabet, Inc. reported second-quarter results with revenue of $96.43 billion, surpassing estimates of $93.72 billion, and earnings per share of $2.31, exceeding the $2.16 estimate. Overall revenue increased by 14% year-over-year, driven by strong momentum in their business segments. Google advertising revenue reached $71.34 billion, while Google Search and YouTube advertising revenues were also significantly higher compared to the previous year. Analysts raised price targets for Alphabet shares due to this robust performance and the influence of AI momentum across all segments, with price target increases noted from several financial institutions.
For the tenth straight quarter, Alphabet reported second-quarter results that exceeded Wall Street's expectations, with revenues of $96.43 billion, surpassing estimates of $93.72 billion.
Google's second-quarter earnings came in at $2.31 per share, beating the Street estimate of $2.16 per share, fueled by strong performance across various business segments.
Analysts attribute growth to AI momentum across all segments, leading to multiple price target increases for Alphabet shares among various financial institutions.
Revenue from Google Advertising was reported at $71.34 billion, reflecting a significant increase from previous year results and demonstrating robust momentum.
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