Google parent Alphabet beats Q2 revenue, profit estimates on strong ads, cloud

Alphabet beat second-quarter revenue and profit estimates on Tuesday, driven by a rise in digital advertising sales and healthy demand for its cloud computing services, but flagged that capital expenses would remain high for the year.

Alphabet’s results underscore robust demand for digital ads, driven by events like the Paris Olympics and elections in several countries including the U.S., while a recovery in enterprise spending is boosting its software business.