Google-parent Alphabet quarterly earnings lifted by cloud and AI
The Hindu
Alphabet chief executive Sundar Pichai said the strong quarterly results reflect healthy growth and momentum across the business.
Google parent Alphabet on Thursday reported profit of $34.5 billion in the recently ended quarter, powered by its cloud computing and artificial intelligence operations.
Overall revenue at Alphabet grew 12% to $90.2 billion compared to the same period a year earlier, while revenue for the cloud unit grew 28% to $12.3 billion, according to the tech giant.
Alphabet chief executive Sundar Pichai said the strong quarterly results reflect healthy growth and momentum across the business.
"Underpinning this growth is our unique full stack approach to AI," Pichai said in an earnings release.
He touted the latest Gemini software as Alphabet's most intelligent AI model and an "extraordinary foundation" for the Silicon Valley company's innovation.
Alphabet shares were up more than 3% in after-market trades that followed the release of the earnings figures.
"Cloud grew rapidly with significant demand for our solutions," Pichai said of Alphabet's services and tools hosted at data centres.
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