Google made history on July 22, with more profit in three months than 459 of the Fortune 500 companies generate in top line revenue in a full year

Google-parent Alphabet has become the first company in the world to report more than $100 billion in quarterly profit, setting a new corporate record. In its second-quarter earnings released on July 22, the company posted a net income of $112.1 billion, nearly four times higher than a year ago. According to Fortune, the figure is more profit in three months than 459 Fortune 500 companies generate in total annual revenue. Helped by an 82% jump in Google Cloud revenue, Alphabet’s revenue rose 24% year over year to $119.8 billion. The record earnings were also driven by massive gains from the company’s investments in artificial intelligence firm Anthropic and Elon Musk’s SpaceX.

Google CEO Sundar Pichai said the results show that the company’s “full stack approach to AI is delivering real, measurable value.”