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Alphabet Posts Cloud Sales Beat, Slight Miss on Search Revenue

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Big Tech Alphabet Posts Cloud Sales Beat, Slight Miss on Search Revenue Alphabet Inc. reported second-quarter cloud revenue that surpassed Wall Street’s expectations but slightly missed on sales tied to its search-engine business, threatening to fuel concerns about its heavy spending on artificial intelligence. The Google parent said cloud sales totaled $24.77 billion for the quarter ended June 30, a jump of 82% over the same period last year. That was better than the $22.46 billion that...

Big Tech Alphabet Posts Cloud Sales Beat, Slight Miss on Search Revenue Alphabet Inc. reported second-quarter cloud revenue that surpassed Wall Street’s expectations but slightly missed on sales tied to its search-engine business, threatening to fuel concerns about its heavy spending on artificial intelligence. The Google parent said cloud sales totaled $24.77 billion for the quarter ended June 30, a jump of 82% over the same period last year. That was better than the $22.46 billion that analysts expected, according to data compiled by Bloomberg. Sales from search advertising generated $63.27 billion, just below estimates for $63.28 billion.
Search Revenue (ORG) Search Revenue Alphabet Inc. (ORG) Google (ORG) Bloomberg (ORG)
Originally published by Bloomberg Technology Read original →