Google Q2 Net Profit Rises 19 Percent, Raises Full-Year Capital Expenditure Forecast to $85 Billion

According to Jinse Finance, Alphabet (GOOG.O), the parent company of Google, reported a 19% year-on-year increase in net profit for the second quarter, reaching $28.196 billion, with revenue rising 14% to $96.43 billion, surpassing market expectations of $94 billion. In Q2, Google Services revenue grew by 12% to $82.5 billion, with YouTube advertising revenue at $9.79 billion. Google Cloud revenue increased by 32% to $13.6 billion, exceeding the expected $13.11 billion. The company anticipates that, with increased investment in artificial intelligence, capital expenditures this year will reach $85 billion, up from the previously projected $75 billion earlier this year.