Alphabet Inc Class CBeat earnings expectations with 12th straight quarter of double-digit revenue growth
Alphabet reported second-quarter earnings of $9.11 per share on revenue of $119.8 billion, beating Wall Street expectations and marking its 12th consecutive quarter of double-digit revenue gains. The results arrive as investors scrutinize the company's heavy AI spending and its ability to sustain those investments amid intensifying competition. CEO Sundar Pichai said AI investments are redefining every part of the business, while the company also introduced three cheaper Gemini models, including a cybersecurity-focused version available only to governments and trusted partners. The earnings come as Google faces pressure from rivals like OpenAI and Anthropic, as well as cheaper Chinese models such as Alibaba's Qwen and Moonshot's Kimi K3.
Alphabet Inc Class CBeat earnings expectations with 12th straight quarter of double-digit revenue growth
Alibaba Group Holding LtdMentioned as a cheaper Chinese AI model rival to Google
Astera Labs, Inc.Mentioned as a rival pressuring Google
Mentioned as a rival pressuring Google