"AI is positively impacting every part of the business, driving strong momentum. Search delivered double-digit revenue growth, and our new features, like AI Overviews and AI Mode, are performing well."
"Cloud had strong growth in revenues, backlog and profitability. Its annual revenue run-rate is now more than $50 billion. Advertising revenue came in at $71.3 billion versus expectations of $69.6 billion."
"Google is expected to drop $75 billion expanding its AI capabilities, including on massive data centers running on both its own home-grown chips and Nvidia's processors."
"For the quarter, Google saw adjusted earnings per share (EPS) of $2.31 on revenue excluding traffic acquisition costs (TAC) of $81.7 billion."
Alphabet reported better-than-expected Q2 earnings, with adjusted earnings per share of $2.31 and revenue of $81.7 billion. The company's advertising revenue reached $71.3 billion, surpassing predictions. Search showed double-digit growth due to new AI features, while Google Cloud's revenue totaled $13.6 billion. Despite positive performance, capital expenditures are expected to rise to $85 billion. CEO Sundar Pichai emphasized AI's significant role across the business, including strong revenue growth from YouTube subscriptions and cloud backlogs.
Read at Yahoo Finance
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