Alphabet Profit

As its main search business matures, Google is betting on growth from its cloud division, which supplies computing power, software and services to other companies

Alphabet reported revenue of $80.5 billion for the 2024 January- March quarter, up 15 per cent from last year, with operating income surging by 46.3 per cent and net income by 57 per cent

While Google Cloud's revenue topped Wall Street targets and growth rebounded with a boost from AI, Microsoft's Azure grew faster in the same period

Alphabet, the parent company of Google, has reported weaker-than-expected earnings and revenue for the April-June period (Q2). The company reported solid growth in its Search business

Alphabet shares rose 4.4 per cent after ending regular trading at $1,556.88

Google's 'other revenue' segment logged $4.4 billion in revenue, compared to $3.6 billion a year ago

Alphabet and Facebook, which together dominate the online ad market, compete for advertising dollars

Alphabet shares slid about 2.9% to $969.03 in after-market trades