Google parent company Alphabet saw its turnover and profit shoot up in the last quarter, driven by the growth of its renowned search engine and cloud services.
From April to June, Alphabet’s turnover topped $96 billion, about €82 billion, a 14% increase compared to the corresponding period last year. Net profit exceeded $28 billion, up from just under $24 billion in the second quarter of last year.
The company’s search engine accounted for the majority of the turnover, with its earnings rising from about $48 billion to more than $54 billion.
Cloud services, in high demand due to the rapid development of new applications in artificial intelligence (AI), generated more than $13 billion in earnings, compared to just over $10 billion the previous year.
“We’ve had an excellent quarter, with strong growth across all parts of the company,” CEO Sundar Pichai said in a statement accompanying the results. “We are leading in AI and launching new products at an incredible pace. AI is positively impacting every area of our operations.”
Google offers the computing power of its servers to start-ups developing new AI applications. At the same time, it is working hard on its own AI model, Gemini, as it competes with ChatGPT creator OpenAI.
