Alphabet, Google’s parent company, reported stronger-than-expected second-quarter results, driven by rapid growth in its cloud business and continued momentum in artificial intelligence (AI).
Revenue rose 14% year-on-year to $103.3 billion, while net profit climbed to $28.2 billion, reflecting healthy demand across its core businesses. Google Cloud posted impressive growth as enterprises increased spending on AI-powered services and cloud infrastructure.
The strong performance also boosted investor confidence in AI-related companies, including Adobe and Broadcom. Alphabet said it will increase capital spending to expand AI infrastructure, signalling its commitment to meeting rising global demand for advanced AI tools and cloud computing services.