Alphabet posts $119.8B revenue, stock falls on EPS miss, spending
Alphabet (Google's parent company) just posted $119.8 billion in Q2 revenue, beating expectations.
But even with those big numbers, its stock still slid 3.3% after hours on Wednesday.
Why? Investors got spooked by lower-than-expected earnings per share ($2.85 vs $2.89 expected) and news that Alphabet plans to spend more this year than previously announced.
Google Cloud revenue jumps 82%
Google Cloud had a huge year, with revenue jumping 82% to $24.77 billion and the Gemini AI app now hitting 950 million monthly users.
YouTube also pulled in $11.1 billion thanks to connected TVs and new AI tools for creators, and investments in Anthropic and SpaceX helped boost profits.
Still, the bigger spending plans for 2026 made some investors nervous about future profits, even as CEO Sundar Pichai teased more upgrades coming for Gemini amid fierce AI competition.