Reported about 8 hours ago
Alphabet's stock rose over 6% in after-hours trading as the company's Q3 earnings and revenue exceeded Wall Street forecasts, reporting $102.4 billion in revenue and an adjusted EPS of $2.87. Growth was driven by a robust performance in Google Cloud, which saw a 34% increase in revenue and benefited from a surge in AI demand. Alphabet also raised its capital expenditure forecast to support AI infrastructure amid increasing customer demand, while grappling with competition from AI-powered services like OpenAI's ChatGPT.
Source: YAHOO