Google’s revenue in the past few months has approached $85 billion as revenue from its search and cloud computing businesses soared. This is according to the second-quarter earnings report released by Google parent company Alphabet on Tuesday, which reported revenue of $48.5 billion from search business alone.
At the same time, the revenue of Google Cloud Division exceeded US$10 billion for the first time, and operating profit also reached US$1 billion. During an earnings call on Tuesday, Google Chief Executive Sundar Pichai said the company’s generative artificial intelligence solutions for cloud customers “have generated billions of dollars in revenue and have been surpassed by Used by 2 million developers.
“We are innovating at every layer of the AI stack,” Pichai said in a letter to investors. “Our long-standing leadership in infrastructure and internal research teams position us well as technology evolves and we pursue Many opportunities ahead.” According to CNBC, Google considered acquiring startup Wiz for $23 billion to help strengthen its cloud security product portfolio, but Wiz rejected the deal in order to advance its initial public offering.
This week, Google announced it was abandoning its long-delayed plan to phase out third-party cookies by default, as Safari and Firefox have already done. Instead, Google Chrome will ask users to “make informed choices regarding their web browsing.” During Google’s earnings call, Pichai said he believed “user choice is the best path forward,” adding that the company would continue to “invest in privacy-enhancing technologies” while listening to “ecosystem players feedback of”.
Growth has also occurred in other areas of Alphabet. Google’s advertising business surged to $64.6 billion, while YouTube advertising grew 13% year over year to $8.6 billion. Revenue for the segment, which includes subscriptions, platforms and devices, was $9.3 billion. Google will hold an earlier-than-usual Pixel hardware launch event in August, giving a sneak peek of the Pixel 9 and Pixel 9 Pro Fold weeks before their release.
Correction on July 23: A previous version of this article incorrectly stated that Google made $85 million, when in fact it made $85 billion.
