The company delivered June quarter earnings of $1.89 a share, giving investors a favorable surprise for the second quarter in a row. Read More...
Google Parent’s Ad Sale Growth Slows as AI Investments Soar
Google’s advertising sales growth slowed in the second quarter, putting a damper on parent Alphabet primary revenue engine as it pours more money into artificial intelligence investments. Alphabet reported that its Google division generated $64.6 billion in ad sales from April to June, an increase of 11.1% from the same period last year. Shares in Alphabet were down 1.4% during after-hours trading after Chief Financial Officer Ruth Porat indicated third-quarter operating margins would be crimped by investments in technical infrastructure and the cost of launching new hardware products, such as the Pixel phone.
The Wall Street Journal•
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