Alphabet Q2 Earnings Beat Expectations with Strong Cloud Growth but Stock Falls Due to Higher Capex
Alphabet (GOOG, GOOGL) reported better-than-expected second-quarter earnings and revenue, driven by an 82% year-over-year increase in Google Cloud revenue. However, the company raised its capital expenditures guidance for the year, leading to a 4.5% premarket stock decline as investors reacted negatively to increased spending on AI infrastructure.
Topics: AI infrastructure capital expenditures cloud revenue growth earnings