Google Parent Alphabet Reports Strong Profit Growth Again

Alphabet, Google’s parent company, significantly boosted its profits again in the past quarter. Revenue also rose, with the tech giant benefiting from the growth of its popular search engine and cloud services.

From April through June, Alphabet posted revenues of over $96 billion. This represented a 14 percent increase compared to the same period a year earlier. Net profit exceeded $28 billion, compared to nearly $24 billion in the second quarter of last year.

Positive impact of AI
Revenue. This revenue increased from over $48 billion to over $54 billion. Cloud services, which are in high demand due to the rapid development of new AI applications, generated revenue of over $13 billion, compared to over $10 billion last year.

“Alphabet had an excellent quarter, with strong growth across all areas of the business,” said CEO Sundar Pichai. “We’re leading the way in AI and releasing new products at an incredible pace. Artificial intelligence is having a positive impact on every part of our business.”