Google's parent firm, Alphabet (GOOGL), posted solid second-quarter earnings this week, exceeding analyst estimates for revenue and earnings per share.
Alphabet's Top Performer: Cloud Business
According to a recent report, Alphabet's revenue was $84.7 billion, 14% higher than a year ago and above the analyst's expectation of $84.3 billion.
On the earnings side, the EPS came at $1.89, exceeding analysts' projection of $1.85, indicating a 31% rise over last year.
In the top-performing segment, the cloud business was in a strong position, generating an operating profit of more than $1 billion. In particular, the revenue from the cloud business came at $10.35 billion, higher than the expectation of $10.10 billion. Also, the number was greatly increased from the $8 billion recorded in Q2 2023.
