Google Cloud, Gemini power Alphabet earnings as ‘AI now driving real business’
Alphabet Inc. sales topped quarterly Wall Street estimates, fueled by a surge in demand for its cloud and AI services. Shares rose as much as 7.5% in extended trading.
Third-quarter sales, excluding partner payouts, rose to $87.5 billion, Alphabet said in a statement Wednesday. That topped the $85.1 billion expected on average by analysts, according to data compiled by Bloomberg. Net income was $2.87 per share, compared with Wall Street’s estimate of $2.26.
