Yahoo Finance – Alphabet, the parent company of Google, announced a significant after-hours stock rise, following the release of their excellent quarterly financial report. The company exceeded expectations on revenue and earnings, highlighting solid growth in Search, YouTube, and Cloud services. CEO Sundar Pichai credited their leadership in AI, infrastructure, and global presence for their strong position in the market. The report also included the initiation of a cash dividend program and an approval for substantial stock repurchases. Notable increases in cloud revenue and advertising earnings were reported, confirming Google’s ongoing efforts to capture a larger market share in cloud services and maintain its lead in ad revenue. Concerns were raised about the possible impact of AI on Google’s search business and the costs associated with AI investment, a worry also mirrored by Meta regarding their AI spending.
By Hamza Shaban