Alphabet’s second-quarter profits topped estimates as the parent company of Google showed strong growth in its advertising and cloud computing divisions, while it boosted its spending plans on artificial intelligence to $85bn this year.
Net income rose 19 per cent to $28.2bn compared with $23.6bn in the same period a year earlier, beating analysts’ expectations for $26.6bn, the search giant reported on Wednesday.
Google’s core search and advertising business grew 12 per cent to $54.2bn, beating expectations for a 9 per cent rise to $52.9bn.
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