Alphabet reports $119.8B Q2 revenue as AI drives growth
Alphabet (Google's parent company) just posted $119.8 billion in second-quarter revenue, a solid 24% jump from last year.
Operating income climbed 30%, and profit margins nudged up to 34%.
The boost comes as Alphabet doubles down on artificial intelligence, which CEO Sundar Pichai says is "redefining what's possible across every part of our business."
Google Cloud revenue jumps 82%
Net income per share hit $9.11, beating Wall Street's expectations.
Google Cloud saw a huge 82% revenue surge to $24.8 billion, thanks to its enterprise AI tools (Gemini Enterprise is now used by close to ninet% of Fortune 100 companies).
Not everything soared though: the Other Bets division (think Waymo and Verily) brought in $382 million, missing estimates, and the stock closed at $342.09 and dipped slightly in after-hours trading.