AI, cloud boost Alphabet profits by 34 percent

Quick Summary:

Google's cloud business is still a distant third to Microsoft and Amazon.

Revenue rose 15 percent to $88.3 billion in the three months through to the end of September, beating the average estimate for $86.3 billion.

The solid results released on Tuesday helped alleviate investors’ fears about the financial returns on the vast sums being spent on AI by Alphabet and other Big Tech peers as they seek to dominate the nascent sector.

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Article Details

Author / Journalist: Stephen Morris, Financial Times

Category: Technology

Markets: United StatesThailandUruguay

Topics: AI Syndication Alphabet Tech Google

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 13:37:56 (1 days ago)

News Timezone: GMT -5:00

News Source URL: arstechnica.com

Language: English

Article Length: 162 words

Reading Time: 1 minutes read

Sentences: 33 lines

Sentence Length: 5 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Ars Technica

News ID: 23340182

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Official Website: arstechnica.com

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