Alphabet’s Revenue Boosted by Cloud Computing, Search Ads – Yahoo Finance

(Bloomberg) — Google parent Alphabet Inc. reported second-quarter revenue that exceeded analysts’ expectations, boosted by demand for cloud-computing services and advertising on its search engine.

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Sales, excluding partner payouts, were $71.36 billion in the second quarter, the company said Tuesday in a statement. Analysts had projected $70.7 billion, according to data compiled by Bloomberg. Net income was $1.89 per share, compared with Wall Street’s $1.84 per-share estimate.

Google once had a head start in the AI race because it developed much of the technology underpinning popular chatbots. Now, the company is under pressure to prove that it can…

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