Lates News

Alphabet (GOOG.O) announced that its cloud business revenue for the second quarter exceeded Wall Street expectations, but its search engine business sales were slightly lower than expected. This could exacerbate the market's concerns about its massive investments in artificial intelligence. For the quarter ending on June 30, Alphabet's cloud business sales totaled $24.77 billion, an increase of 82% compared to the same period last year. This number is higher than analysts' expectations of $22.34 billion. Search advertising revenue was $63.27 billion, slightly lower than the expected $63.28 billion. Alphabet is the first large US tech company to report earnings this quarter, providing an early indication of future performance trends for the market.