Alphabet reports better-than-expected quarterly results driven by growth in cloud

Alphabet shares roseate much than 6% successful extended trading connected Tuesday aft the institution reported better-than-expected gross and profit, driven by maturation successful its cloud-computing unit.

Earnings: $1.44 per stock vs. $1.34 per share, adjusted, expected by Refinitiv.Revenue: $74.6 cardinal vs. $72.82 cardinal expected by Refinitiv.

The institution besides reported the pursuing numbers:

YouTube ads: $7.67 cardinal vs. $7.43 billion, according to Street Account.Google Cloud: $8.03 cardinal vs. $7.87 billion, according to StreetAccount.Traffic acquisition costs:  $12.54 cardinal vs. $12.37 billion, according to StreetAccount.

Revenue roseate 7% to $74.6 cardinal for the 2nd quarter.

For the 4th consecutive quarter, Google's genitor institution reported maturation successful the azygous digits arsenic it reckons with a pullback successful integer advertisement spending that reflects concerns astir the economy. Analysts don't expect maturation to deed treble digits again until the 4th quarter.

Google's advertisement gross came successful astatine $58.14 billion, up from $56.29 cardinal past year. YouTube ads came successful supra expert expectations astatine $7.67 billion, up from $7.34 cardinal the twelvemonth before.

Revenue successful Google's unreality unit, which includes infrastructure and productivity apps, accrued 28%.

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