Google Parent Company's Robust Performance Fueled by Ad Revenue Growth, Cloud Profits, and AI Initiatives Google's parent company, Alphabet, exceeded expectations in its second-quarter earnings report, sending the stock up 6% in after-hours trading. The company reported a revenue of $74.6 billion, surpassing the estimated $72.75 billion, and earnings per share of $1.44, beating analysts' expectations of $1.32. Google's advertising revenues for both its main platform and YouTube were higher than predicted, with $58.14 billion and $7.66 billion, respectively. The Google Cloud business also turned a profit, generating $8 billion in revenue with an income of $395 million. Check Out Video --> GOOG Price Analysis Alphabet's total operating income for the quarter was $21.8 billion. In light of these strong financial results, Ruth Porat, the CFO, will assume the newly created role of president and chief investment officer while retaining her CFO responsibilities. The re