Alphabet Crushes Q2 Expectations as Ad and Cloud Revenue Surge

Alphabet easily surpasses Wall Street's second-quarter estimates thanks to massive growth in advertising and cloud computing. The tech giant's stock jumps over two percent in after-hours trading.

15 Jun 2021 • 1 min read

Alphabet easily shatters Wall Street's second-quarter expectations as robust growth in advertising and cloud computing propels the tech giant past consensus estimates. The company reports $61.88 billion in revenue, which significantly exceeds the expected $56.23 billion, while GAAP earnings per share reach $27.26 compared to the anticipated $19.32.

Google Search drives this impressive performance, with ad revenues skyrocketing 69% from the same period last year and overall total revenue jumping 62%. Additionally, YouTube Ads revenue nearly doubles and Google Cloud revenue surges over 53%, showcasing the widespread strength of Alphabet's core businesses during a period of high online activity.

Following this standout report, Alphabet's stock climbs more than 2% in after-hours trading, pushing the company closer to a $2 trillion market cap. While CEO Sundar Pichai continues to view Search as the company's "ultimate moonshot" with room for AI improvement, Alphabet simultaneously navigates ongoing regulatory scrutiny from lawmakers in Washington.

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Deezer Reports AI-Generated Music Now Exceeds Half of All Daily Uploads

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Data Centers on Track to Consume 20% of U.S. Electricity by 2035

Data centers in the United States are on pace to consume four times more electricity by 2035, accounting for roughly one-fifth of all power generated in the country, according to a new report from BloombergNEF. The surge is largely driven by explosive growth in artificial intelligence compute, with nearly half

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