Alphabet Q2 results: Google-parent earnings shine, beat estimates; AI drives growth across business

Alphabet’s second-quarter earnings surpassed expectations, fueled by artificial intelligence advancements across its divisions. The company reported a profit of $28.2 billion on revenue of $96.4 billion. To meet the rising demand for cloud services, Alphabet plans to increase capital spending by $10 billion this year and projects $50 billion in annual revenue from its cloud computing division.