Reported 28 days ago
Alphabet's stock jumped 6% after the company reported third-quarter earnings that surpassed analysts' projections, thanks to robust cloud growth. The tech giant posted earnings per share of $2.12 and revenue of $88.27 billion, marking a 37% profit increase and a 15% rise in sales year-over-year. CEO Sundar Pichai credited the cloud unit for this growth, highlighting a 35% rise in cloud revenue, which outperformed expectations as Google plans to invest heavily in AI and data infrastructure going forward.
Source: YAHOO