Google earned approximately $85 billion in the past three months, with the increase in artificial intelligence-driven cloud computing and Search revenues. The financial report of Alphabet, the parent company of the internet giant, for the second quarter of the year shows that the company generated $48.5 billion in revenue only through Search.
While Google’s cloud unit earned $10 billion in revenue for the first time in its history, the operating profit of the unit was $1 billion. Speaking at the meeting where the financial report was evaluated, CEO Sundar Pichai stated that the productive artificial intelligence solutions offered by the company to its cloud customers are used by more than 2 million developers and have earned the company billions of dollars.
Pichai’s letter to investors includes the following statements: “We are innovating at every layer of the artificial intelligence stack. “Our longstanding infrastructure leadership and in-house research teams best position us as technology evolves and we pursue the many opportunities ahead.”
It was recently revealed that Google made a $23 billion offer to cloud security initiative Wiz in order to strengthen its cloud security portfolio. However, surprisingly, Wiz rejected Google’s offer and preferred the IPO option.
Google’s market value rose to $2 trillion last April. After a while, the company started to offer its users the artificial intelligence-based “Search Overview” feature supported by the Gemini large language model (LLM). After a while, users realized that this feature provided strange answers to certain queries, and Google removed the feature. Pichai stated that despite the problems, the “Search Overview” feature increased both searches and user satisfaction.
Google announced this week that it was reversing its decision to disable third-party cookies in Chrome and would instead direct its users to make a more “informed choice.” Speaking about this issue, Pichai expressed that he believes user choice is the best way forward. Google CEO added that the company will continue to invest in technologies that will strengthen privacy and collect feedback from players in the ecosystem.
Google also laughed with the performance of its units other than artificial intelligence and search
Revenues of Alphabet’s other units also increased. While Google’s advertising revenues increased to 64.6 billion dollars, YouTube’s advertising revenues increased by 13 percent compared to a year ago and reached 8.6 billion dollars. The revenues of the company’s subscriptions, platforms and devices unit were $9.3 billion.
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