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Alphabet reports 120B quarterly revenue
Alphabet, the parent company of Google, achieved record-breaking financial results in the second quarter of the year, with profits reaching $112.11 billion, a significant increase from $28.2 billion in the same period last year. Revenues rose by 24% to $119.8 billion, exceeding analysts' expectations of $117.06 billion. This reflects the company's successful investments in artificial intelligence, with CEO Sundar Pichai affirming that these investments are redefining business possibilities. Google recorded net gains of $98 billion, mostly derived from its investments in stocks, particularly in SpaceX.
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