Alphabet Q2 Results: Google parent beats estimates with 14% revenue growth led by AI, cloud demand; boosts capex
Alphabet, the parent company of search giant Google, reported second quarter earnings on Wednesday that strongly beat Wall Street estimates led by new AI features and a steady digital advertising market. The company also announced a hike in capex plans for 2025, and predicted a further increase next year.
Alphabet reported a net profit of $28.2 billion, or $2.31 per share, during the April-June quarter, registering a growth of 19% from the same time last year.
