Alphabet Q2 revenue stands at $74.6 billion
The company said ad sales for Google's YouTube video service has increased 4.4%
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Published: Jul 26, 2023 9:01 AM | 1 min read
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Google's parent company Alphabet has reported revenue for the quarter at $74.6 billion, compared with estimates of $72.82 billion, media networks have reported.
Its net income for the quarter has increased 15% YoY to $18.37 billion.
Ad sales for Google's YouTube video service has increased 4.4% to $7.67 billion.
Google Cloud's revenue has risen 28% to $8.1 billion.
Alphabet's second-quarter profit has exceeded market expectations. The company also announced CFO Ruth Porat will assume a new role while they are seeking a new finance chief.
“The new AI technology comes at a cost: the largest component of Alphabet's second-quarter capital spending was for servers and a "meaningful investment" in AI computing,” Porat was quoted as saying during the earnings call.
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