2024-10-30 09:00:10
Business
Technology
Artificial Intelligence
Alphabet's Impressive Growth Fueled by AI and Cloud Innovations
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New York Times - Technology
Alphabet Revenue Jumps 15% to $88.3 Billion
Economy
Finance
Technology
Alphabet, Google's parent, reported $88.3B revenue, up 15%, and $26.3B profit, up 34%, driven by Google's search engine, YouTube, and Google Cloud's 35% growth in software and technology services. The company faces regulatory scrutiny, including potential divestitures of Chrome and Android, and competition from Amazon and TikTok in the search advertising market, but invested $13B in data centers, chips, and hardware.
The Street
Alphabet stock leaps as Google parent crushes Q3 earnings TheStreet Daily Newsletter
Finance
Economy
Technology
Alphabet's Q3 results showed strong performance across Search, YouTube, and Google Cloud, with improved margins. CEO Sundar Pichai highlighted the company's commitment to AI innovation, which is benefiting consumers and partners through new search capabilities and cloud solutions. Alphabet's stock rose 4.5% after the earnings beat.
The Guardian
Google parent Alphabet sees double-digit growth as AI bets pay off
Economy
Technology
Finance
Alphabet reported 15% growth, with ad revenue up 10% and cloud up 35%. Google's stock has risen on AI, but it faces antitrust cases, including one from the US justice department alleging an illegal monopoly over online advertising, and a ruling against the Android maker by Epic Games. Waymo has deployed autonomous vehicles, begun offering paid rides, and announced $5.6bn in funding.
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