Overview

• Alphabet reported second-quarter revenue of $96.4 billion and net income of $28.2 billion, exceeding Wall Street expectations.
• The company boosted its full-year capital expenditure forecast by $10 billion to $85 billion to expand cloud and AI infrastructure.
• Google Cloud revenue grew 32% year-over-year to $13.6 billion, creating a $106 billion contract backlog.
• CEO Sundar Pichai noted that AI integration is driving growth, with Gemini surpassing 450 million monthly users and AI Overviews widely deployed.
• Shares climbed as much as 3% in after-hours trading as investors cheered the results and looked ahead to a near-term antitrust remedy ruling.