{"id":119935,"date":"2024-10-30T05:12:47","date_gmt":"2024-10-29T22:12:47","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=119935"},"modified":"2024-10-30T05:12:47","modified_gmt":"2024-10-29T22:12:47","slug":"alphabet-stock-soars-as-earnings-crush-estimates-on-strong-cloud-growth","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=119935","title":{"rendered":"Alphabet stock soars as earnings crush estimates on strong cloud growth"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Google parent Alphabet&#8217;s (<a data-i13n=\"cpos:1;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/GOOG\/\" data-ylk=\"slk:GOOG;cpos:1;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">GOOG<\/a>, <a data-i13n=\"cpos:2;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/GOOGL\/\" data-ylk=\"slk:GOOGL;cpos:2;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">GOOGL<\/a>) stock surged 6% in after-hours trading Tuesday as the company reported fiscal third quarter earnings that beat analysts&#8217; estimates on the top and bottom lines, helped by strong growth in its cloud business.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->The search giant reported earnings per share of $2.12 on revenue of $88.27 billion for the quarter ended Sept. 30. That represents a profit and sales increase from the same period last year of 37% and 15%, respectively.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Analysts were anticipating earnings per share of $1.83 on revenue of $86.44 billion, according to data compiled by Bloomberg.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Advertising revenue topped $65.85 billion versus analysts&#8217; expectations of $65.5 billion, up from the year-ago period&#8217;s $59.65 billion.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Google CEO Sundar Pichai highlighted the growth of the cloud unit in an earnings call Tuesday, noting that the company&#8217;s AI portfolio is attracting new customers and leading to larger deals. Cloud revenue came in at $11.4 billion, up 35% from the same period last year, surpassing expectations.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->\u201cThis business has real momentum, and the overall opportunity is increasing as customers embrace gen. AI,&#8221; he said.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->The run-up in cloud revenue comes as rivals Microsoft (<a data-i13n=\"cpos:3;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/MSFT\" data-ylk=\"slk:MSFT;cpos:3;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">MSFT<\/a>) and Amazon (<a data-i13n=\"cpos:4;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/AMZN\" data-ylk=\"slk:AMZN;cpos:4;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">AMZN<\/a>) are also expected to grow their cloud businesses and ramp up investments in AI infrastructure. Google plans spend roughly $13 billion on capital expenditures for the current quarter, CFO Anat Ashkenazi said on the call. And the company anticipates another increase in AI and data infrastructure spending in 2025.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Google also faces competition on its home turf with the introduction of increasingly sophisticated AI-powered chatbots. On Monday <a data-i13n=\"cpos:5;pos:1\" href=\"https:\/\/www.theinformation.com\/articles\/meta-develops-ai-search-engine-to-lessen-reliance-on-google-microsoft\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:the Information reported;cpos:5;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">the Information reported<\/a> that Meta (<a data-i13n=\"cpos:6;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/META\" data-ylk=\"slk:META;cpos:6;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">META<\/a>) is developing its own search engine to drive its Meta AI chatbot, providing users with conversational answers to their questions and prompts.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->How the next generation of answer engines compete with Google&#8217;s traditional and AI-boosted search remains a key question for the company.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Pichai framed the expansion of AI search tools as boosting the user experience. AI Overviews, Google&#8217;s search feature that offers concise answers to user queries, now reaches 1 billion users on a monthly basis, the company announced Monday.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->\u201cPeople are asking longer and more complex questions and exploring a wider range of websites,&#8221; Pichai said. &#8220;What&#8217;s particularly exciting is that this growth actually increases over time as people learn that Google can answer more of their questions.&#8221;<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Similar to legacy search results, users are shown advertisements that Google places alongside AI Overviews.<!-- HTML_TAG_END --><\/p>\n<p><button class=\"secondary-btn fin-size-large readmore-button rounded   yf-15mk0m\" data-ylk=\"elm:readmore;itc:1;sec:content-canvas;slk:Story%20Continues\" aria-label=\"Story Continues\" title=\"Story Continues\"> <span>Story Continues<\/span> <\/button> <\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/finance.yahoo.com\/news\/alphabet-stock-soars-as-earnings-crush-estimates-on-strong-cloud-growth-213627854.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Google parent Alphabet&#8217;s (GOOG, GOOGL) stock surged 6% in after-hours trading Tuesday as the company reported fiscal third quarter earnings that beat analysts&#8217; estimates on the top and bottom lines, &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=119935\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-119935","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/119935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=119935"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/119935\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=119935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=119935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=119935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}