CosmicTaco

Alphabet's Q2 Revenue Soars Amid AI and Cloud Growth

CosmicTaco · 2024-07-24T09:49:02.812787+05:30

- Alphabet's Q2 revenue surged 14%, driven by strong advertising growth, indicating AI chatbots like ChatGPT haven't impacted Google's search engine dominance. - Cloud computing revenue saw even stronger growth, reflecting high demand for computing and data services as companies integrate AI. - Alphabet's revenue hit $84.7bn, surpassing analyst expectations, with net income rising 28% to $23.6bn. - CEO Sundar Pichai highlighted ongoing momentum in search and cloud, despite criticism for slow commercialization of AI technology. - Alphabet's stock has risen by nearly a third this year, with significant investments in AI and data centers, though some analysts found the Q2 results less exciting than Q1. Source: FT

Alphabet's Q2 revenue surged 14%, driven by strong advertising growth, indicating AI chatbots like ChatGPT haven't impacted Google's search engine dominance.
Cloud computing revenue saw even stronger growth, reflecting high demand for computing and data services as companies integrate AI.
Alphabet's revenue hit $84.7bn, surpassing analyst expectations, with net income rising 28% to $23.6bn.
CEO Sundar Pichai highlighted ongoing momentum in search and cloud, despite criticism for slow commercialization of AI technology.
Alphabet's stock has risen by nearly a third this year, with significant investments in AI and data centers, though some analysts found the Q2 results less exciting than Q1.

Source: FT