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Alphabet beats analysts' expectations on top and bottom line as cloud business picks up steam

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Earnings Per Share News

Google,Alphabet,Top And Bottom

Alphabet announced better-than-anticipated earnings and revenue for the second quarter, as its Google Cloud business continues to pick up steam.

after the bell on Tuesday, beating analysts' estimates on the top and bottom lines, as its cloud businesses continue to pick up steam, topping the $1 billion mark for operating profit for the first time.

Google Chief Executive Sundar Pichai speaks during the tech titan's annual I/O developers conference on May 14 in Mountain View, Calif. Google still trails both Amazon and Microsoft in the cloud space, with its rivals capturing the number one and two spots, respectively. However, the segment continues to grow, and Alphabet is banking on its investments in generative AI to help power stronger revenue and customer acquisition in the future.

Berkshire Hathaway trimmed its holdings of Bank of America stock for the first time in at least four years. U.S. Bancorp, Wells Fargo, Bank of New York Mellon, and HP Inc. were once large positions at Berkshire and have been eliminated. The risk of further sales appears to be depressing Bank of America stock, which was off 1.5% on Monday afternoon.Do you like Enbridge stock for its dividend but not the share growth? Consider these two top monthly payers instead.

 

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