Alphabet delivers 24% revenue increase to $119.8 billion

• Alphabet reported second-quarter revenue of $119.8 billion, up 24%, exceeding the $117.1 billion analyst consensus.
• Alphabet shares rose 0.8% to $344.62 in after-hours trading following the results.
• Google Cloud revenue increased 82% to $24.8 billion, led by enterprise AI infrastructure and solutions.

Alphabet (NASDAQ:GOOG) reported second-quarter revenue of $119.8 billion, up 24%, as Services and Cloud sales increased.

Revenue rose from $96.4 billion and exceeded the $117.1 billion consensus, while operating income climbed 30% to $40.8 billion.

Other income included a $98 billion net gain, mainly from unrealized equity gains, lifting net income to $112.1 billion and EPS to $9.11.

Following the announcement, Alphabet's share price was up 0.8% at $344.62 in after-hours trading.

Google Services revenue rose 15% to $94.5 billion, including 17% Search growth and 13% YouTube advertising growth.

Google Cloud revenue jumped 82% to $24.8 billion, driven by enterprise AI infrastructure, AI solutions and core cloud services.