7/27, 10:14 PM (Source: TeleTrader)
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Alphabet's revenue soars 62% to $62B in Q2

Alphabet Inc. unveiled on Tuesday that its revenue surged 62% on an annual basis to land at $61.88 billion in the year's second trimester, and top the analysts' expectations. Google's parent's operating income gained 31% year over year to amount to $19.4 billion, while its net income climbed 166% to $18.5 billion, or $27.26 per diluted share.

Per segment, Google Search & other revenue rose 68.1% to $35.8 billion, while Google Cloud surged 53.9% to $4.6 billion.

"In Q2, there was a rising tide of online activity in many parts of the world, and we're proud that our services helped so many consumers and businesses. Our long-term investments in AI and Google Cloud are helping us drive significant improvements in everyone’s digital experience," CEO Sundar Pichai commented.

Alphabet's shares jumped more than 4% in the after-hours trading, following the announcement.

Breaking the News / BU