Alphabet Q2: AI Investments Drive 24% Revenue Growth

Alphabet, the parent company of Google, reported its Q2 financial results.

The company saw a 24% increase in revenue compared to the previous year, reaching $119.8 billion.

This growth was driven by strong demand for artificial intelligence (AI) and cloud services, particularly Google Cloud, which grew by 82%.

Gemini Enterprise, an AI product, is now used by 90% of the Fortune 100 companies.

However, Alphabet's Other Bets division, which includes ventures like Verily and Waymo, did not meet revenue expectations.

Despite this, the company's overall performance was strong, with net income per share well above Wall Street's forecasts.

Alphabet's stock price was slightly down in after-hours trading.