Alphabet sales beat estimates on Google cloud, AI customers
Alphabet reported quarterly revenue of $94.7 billion, beating estimates, driven by strong growth in its cloud computing unit, with sales of $20 billion. Google's cloud business saw a 'meaningful acceleration in growth' due to demand for its AI software and infrastructure.
Alphabet's quarterly revenue exceeded projections, reaching $94.7 billion, with earnings per share of $5.11. The company's cloud computing unit reported $20 billion in sales, surpassing analysts' expectations. Google's cloud business experienced significant growth driven by demand for AI software and infrastructure. The company's backlog nearly doubled to over $460 billion. Google will offer tensor processing units to select customers for use in their own data centres. Alphabet's capital expenditures are expected to reach $185 billion this year, double last year's spending.
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