Lates News

Google's parent company Alphabet (GOOG.O) doubled its capital expenditures in the second quarter, accelerating its investment in artificial intelligence infrastructure. At the same time, revenue and profits easily surpassed Wall Street expectations. The company's spending on fixed assets and equipment in the second quarter was $44.9 billion, higher than the $22.4 billion in the same period last year, reflecting its continued advancement in the construction of artificial intelligence infrastructure and global computing capacity enhancement. In addition, the company raised $49.6 billion through equity issuance and stated that the proceeds will be used to support capital expenditures and other company purposes. Alphabet reported second quarter earnings per share of $9.11, far exceeding analysts' expectations of $2.88; revenue increased by 24% year-on-year to $119.8 billion, also higher than the market's general expectation of $116.52 billion. Operating profit increased by 30% and the operating profit margin rose to 34%. The strong performance was mainly due to Google Cloud, with revenue soaring by 82% to $24.77 billion.