GOOGLE’S parent company, Alphabet, reported strong third-quarter results, with revenue increasing 15 per cent year-over-year to $88.3 billion, largely driven by its advertising business and cloud services. Net income rose 34 per cent to $26.3 billion, and earnings per share jumped 37 per cent to $2.12. Operating margins improved to 32 per cent, reflecting enhanced cost efficiency.
CEO Sundar Pichai emphasized the company’s focus on AI innovation, stating that their AI tools are benefiting consumers and partners. Despite facing competition from platforms like Meta and Amazon, analysts noted Google is well-positioned for the holiday ad season. The introduction of AI Overviews in search results has also been successful.
Google Cloud revenue surged 35 per cent to $11.4 billion, driven by increased demand for AI infrastructure. The core Google Services segment, which includes Search and YouTube, grew 13 per cent to $76.5 billion, with YouTube’s revenues surpassing $50 billion in the past year.
AFP
#TheGlobalNewLightOfMyanmar