Reported 27 days ago
Alphabet's stock increased by 6% on Wednesday following the company's fiscal Q3 earnings report, which exceeded analyst predictions with earnings per share of $2.12 and revenue of $88.27 billion, driven by robust cloud growth of 35%. CEO Sundar Pichai highlighted the strength of their AI portfolio as a key driver of new customer acquisitions and larger deals. As competition heats up with other tech giants investing in AI, Alphabet plans significant capital expenditures to enhance its cloud services.
Source: YAHOO