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.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Alphabet's overall numbers were strong as well, as revenue jumped 24% to $119.8 billion, well ahead of the consensus at $117 billion.
Operating margin also expanded from 32% to 34%, translating into $40.8 billion in operating income. Despite those strong results, Alphabet stock was down after hours, losing as much as 5% before clawing back some of those losses.
#billion
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.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Alphabet's overall numbers were strong as well, as revenue jumped 24% to $119.8 billion, well ahead of the consensus at $117 billion.
Operating margin also expanded from 32% to 34%, translating into $40.8 billion in operating income. Despite those strong results, Alphabet stock was down after hours, losing as much as 5% before clawing back some of those losses.
#billion
3 months ago
