Alphabet's Cloud Business Benefits from AI Demand, Search Business Drives Revenue Growth
Publication Time:2024-07-24 05:26:07
Alphabet's executive Ruth Porat emphasized the contribution of the company's search business to the overall revenue growth. In addition, she mentioned the performance of the company's cloud business, pointing out that this area has been boosted by the demand for artificial intelligence (AI). In the recent financial report, Alphabet achieved strong revenue performance in the second fiscal quarter, with total revenue reaching $84.74 billion, up 14% from $74.604 billion in the same period last year. Specifically, the Google Cloud department's income reached $10.35 billion, surpassing market expectations of $10.09 billion. Meanwhile, the Google advertising business also performed impressively, with revenues of $64.62 billion, exceeding the expected $64.53 billion. However, other business revenues fell slightly short of expectations at $3.65 billion, compared to market expectations of $3.896 billion. Excluding traffic acquisition costs, Alphabet's revenue in the second fiscal quarter was $71.36 billion, exceeding analysts' predictions of $70.7 billion. Furthermore, Alphabet's operating profit in the second quarter reached $27.43 billion, higher than the expected $26.37 billion.
Alphabet
Revenue Growth
search business
cloud revenue
AI demand