Analysts expected 12% year-on-year revenue gains, but company reports 15%, buoyed by performance in ads and cloud services
Alphabet, parent of Google and YouTube, saw a third straight quarter of better-than-anticipated gains as it reported earnings on Tuesday. The tech giant had largely exceeded analyst expectations for the previous two quarters, and Tuesday’s results showed growth in both digital advertising and demand for Google Cloud. Shares rose in after-hours training.
“The momentum across the company is extraordinary. Our commitment to innovation, as well as our long-term focus and investment in AI, are paying off with consumers and partners benefiting from our AI tools,” said the CEO, Sundar Pichai.
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