Alphabet’s revenue boosted by Cloud and search

Alphabet, Google’s parent company, reported a second-quarter profit and revenue that surpassed analysts’ expectations on Tuesday, fueled mainly by its cloud solutions and search function. The company announced a net income of $23.6 billion for the quarter ending in June, a 14% increase in revenue to $84.7 billion compared to the previous year. Cloud business saw a significant increase to $10.3 billion from $8 billion. However, YouTube’s revenue slightly missed expectations at $8.7 billion. Amid concerns about AI investments, CEO Sundar Pichai assured that Google is well-positioned in AI development and infrastructure, poised to harness upcoming opportunities.