Alphabet’s stock rose 3% in after-hours trading Tuesday following the earnings report.
Google’s ongoing efforts to diversity its business beyond online advertising also appear to be bearing fruit.
Alphabet and Google CEO Sundar Pichai hailed the company’s investments in artificial intelligence and its rapidly growing cloud business, the latter of which shrunk its quarterly losses from $1.4 billion to $591 million compared to the same period last year. Google Cloud revenue surged 54% 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,” Pichai said in a statement. “Our long-term investments in AI and Google Cloud are helping us drive significant improvements in everyone’s digital experience.”
“First, I want to acknowledge that the new Covid-19 variants have been challenging for so many communities across the world,” he said. “I really encourage everyone to get the vaccine when it’s available to you.”