Alphabet, the parent company of Google, experienced a surge in stock prices during after-hours trading on Tuesday. The increase came after the company’s second-quarter profits surpassed Wall Street expectations, thanks to a rebound in advertising revenues and a growing boom in artificial intelligence (AI). The company’s revenue for the quarter was $74.6 billion, which exceeded the estimated $72.82 billion. Alphabet, the parent company of Google, has surpassed Wall Street expectations with its second-quarter profits. Despite an uneven recovery, Alphabet remains a dominant force in the digital advertising market and plans to integrate AI technology into its various products.

Source: The Guardian July 26, 2023 07:48 UTC