Alphabet Just Delivered 82% Cloud Growth. Why It Wasn't Enough
The Google Cloud business is booming.
Overview
Investors were eagerly anticipating Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) second-quarter earnings report on Wednesday, and the numbers did not disappoint.
Alphabet nearly doubled revenue in the key cloud segment, with Google Cloud revenue up 82% to $24.8 billion. Even more impressive was operating income in the cloud segment, which more than tripled to $8.8 billion, thanks to the boom in AI infrastructure spending.
Details
Alphabet's overall numbers were strong as well, as revenue jumped 24% to $119.8 billion, well ahead of the consensus at $117 billion.
Source
Originally published at www.fool.com.
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