The parent company of the Internet search engine has surprised with a good profit.
(Photo: AP)
san francisco Google’s parent company Alphabet has exceeded expectations with its numbers thanks to demand for cloud products and higher advertising revenue. In the second quarter, sales climbed seven percent to $74.6 billion, net profit increased almost 15 percent to $18.4 billion, as the US technology giant announced on Tuesday after the US stock market closed. Both key figures were above the expectations of the analysts.
Alphabet shares are up nearly 5 percent in after-hours trading on Wall Street.
Revenue from the steadily growing cloud business increased by 28 percent to a good eight billion dollars. Advertising revenue, which accounts for most of Alphabet’s revenue, recovered, growing about 3 percent to $58.1 billion.
Competition authorities are increasingly critical of the major role that Alphabet plays in the global advertising markets with its Google search engine and YouTube video platform.
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