Alphabet beats expectations as AI
Photo: Michel Euler/AP/TT

Alphabet beats expectations as AI drives 82% surge in Google Cloud revenue

Google's parent company, Alphabet, beat expectations in its second-quarter report. The company's AI-powered cloud services venture nearly doubled revenue.

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Total revenue came in at $119.8 billion, compared with expectations of $117 billion. This was an increase of 24 percent compared with the same period last year.

Operating profit increased by 30 percent to $40.8 billion, compared with $40.6 billion in the forecast.

Google Cloud revenue increased 82 percent to $24.8 billion, driven by “demand for AI infrastructure and AI solutions,” CEO Sundar Pichai said.

“Our AI investments are redefining what is possible in every part of our business,” he said in a comment.

The results show, according to Pichai, that the company's AI strategy "delivers real, measurable value for consumers, customers and our partners globally."

The company's stock is hovering around zero in after-hours trading on Wall Street.

Alphabet is the world's third most valuable publicly traded company.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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