
Tech giant Alphabet Inc. (GOOGL) reported better-than-expected fiscal 2023 second-quarter results, driven by growth in its cloud-computing unit. The company reported quarterly revenue of $74.60 billion, compared to analysts’ estimate of $72.76 billion.
The company’s revenue from the Google Cloud segment, which includes infrastructure and productivity apps, jumped 28% year-over-year to $8.03 billion. The division reported an operating income in the second quarter of $395 million after losing $590 million a year ago. GOOGL’s Search & other revenue grew 4.8% year-over-year, while its ad revenue rose 3.3%.