Alphabet posts $119.8B revenue, $9.11 EPS, 12th straight double-digit growth
Business
Alphabet, Google's parent company, just posted its 12th straight quarter of double-digit revenue growth, pulling in $119.8 billion this quarter, more than Wall Street expected.
Earnings per share landed at $9.11, keeping pace with its strong performance earlier this year.
Sundar Pichai credits AI, competitors rising
CEO Sundar Pichai credits Alphabet's winning streak to big bets on AI, saying these investments are "redefining what's possible" for the company.
It has just launched three new Gemini models, but rivals like OpenAI and Anthropic are catching up fast, especially as Google faces delays with its flagship Gemini Pro.
Even Chinese players like Alibaba and Moonshot are starting to make waves, though their impact is still smaller for now.