Reported 27 days ago
Alphabet's stock surged 6% following the announcement of strong fiscal third quarter earnings, which exceeded analyst expectations due to significant growth in its cloud business. The company reported earnings per share of $2.12 and revenue of $88.27 billion, reflecting year-over-year increases of 37% and 15%, respectively. CEO Sundar Pichai noted the cloud revenue reached $11.4 billion, up 35% from last year, driven by AI advancements attracting new customers and generating larger contracts.
Source: YAHOO