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Google Reports 35% Surge in Cloud Business, YouTube Ads Up 12% in Q3
3 months ago
Alphabet's Q3 saw a 35% surge in cloud business and increased YouTube ad sales due to AI investments and U.S. election spending. Revenue rose 15% to $88.3B with a 32% operating margin. Google Cloud revenue grew 35% to $11.4B, and YouTube ads increased 12% to $8.9B. Capex rose 62% to $13B. Despite competition and scrutiny, Alphabet's cloud business showed strong growth, offsetting Search declines. EPS was $2.12, beating expectations.