Alphabet Q2 profits surpass predictions; CFO Ruth Porat moves to new role

  • Alphabet’s Q2 earnings exceeded Wall Street predictions, causing an 8% surge in shares owing to increased demand for cloud services and a rebound in advertising revenue.
  • Major growth areas for Alphabet include innovative AI software and their cloud business, with an anticipated ad integration into their AI-powered search system and a 28% rise in Google Cloud revenue to $8.1 billion.
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