Alphabet, Microsoft Beat Q2 Expectations Driven by AI, Cloud Growth

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Alphabet,

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Beat Q2 Expectations Driven by AI, Cloud Growth

Alphabet (NASDAQ:) and

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(NASDAQ:) posted strong Q2 earnings driven by AI and cloud computing. Stocks surge in premarket trading today.

Alphabet Inc. and

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, two of the world’s largest technology companies, have reported strong second-quarter earnings driven by their investments and advancements in (AI) and cloud computing.

Both companies surpassed Wall Street expectations, with Alphabet reporting a revenue of $80.54 billion and an adjusted EPS of $1.89, while

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posted a revenue of $61.86 billion and an EPS of $2.94.

The impressive results have led to significant gains in their respective stock prices, with Alphabet’s stock surging by approximately 16% and

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’s stock increasing by 4.04% in premarket trading today at the time of writing.

Alphabet Surpasses Expectations with Strong Q2 Earnings, Driven by AI and Cloud Growth

Alphabet Inc.,

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’s parent company, announced its second-quarter earnings results, surpassing Wall Street expectations. The company reported revenue of $80.54 billion, marking a 16% increase from the previous year and beating the expected $78.71 billion. Adjusted earnings per share stood at $1.89, above the estimated $1.51.

Alphabet declared a cash dividend of $0.20 per share to reward shareholders and approved stock repurchases of up to an additional $70 billion. The company emphasized its strong position in the AI market, highlighting the integration of AI tools into

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(NASDAQ:) Search,

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, and its Cloud services. Incorporating AI into

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Search is revolutionizing how users interact with the web.

Alphabet’s capital expenditures for the quarter amounted to $12 billion, primarily tied to servers and data centers, signaling the company’s significant ongoing investment in AI capabilities. The Cloud division witnessed impressive growth, with revenue increasing nearly 30% to over $9 billion. The overall strong performance was attributed partly to advancements and integrations in AI technology.

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Following the earnings release, Alphabet’s stock price surged by approximately 16%, reflecting strong market approval of the results and the company’s strategies. In premarket trading, the stock price stood at $176.18, showing a substantial increase of +18.23 (+11.54%).

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’s Q2 Earnings Soar on the Back of AI and Cloud Computing Growth

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reported impressive second-quarter earnings, with a revenue of $61.86 billion, representing a 17% increase from the previous year. Earnings per share rose by 20% to $2.94, showcasing the company’s strong financial performance.

The significant revenue growth was primarily driven by the

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Cloud division, which reached $35.1 billion, up 23% from the previous year. This growth was attributed principally to AI innovations and the expansion of cloud computing services. Azure and other cloud services grew by an impressive 31%, while Office Commercial products and cloud services saw a 13% increase.

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, highlighting its heavy investments in AI, which have contributed significantly to the growth of its cloud computing services. The company has positioned itself as a leader in AI transformation across projects such as the $1.1 billion contract with Coca-Cola (NYSE:) for AI and cloud services.

With a nearly $3 trillion market cap,

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******** the world’s largest public company by market value. During the quarter, the company returned $8.4 billion to shareholders through repurchases and dividends, demonstrating its commitment to creating value for investors.

In premarket trading,

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’s stock price stood at $415.15, showing a solid increase of +16.11 (+4.04%). The company’s strong earnings results and strategic focus on AI and cloud computing have instilled confidence in investors, positioning

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for continued growth and success in the rapidly evolving technology landscape.

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Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our

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prior to making financial decisions.

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#Alphabet #

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#Beat #Expectations #Driven #Cloud #Growth

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