Tesla, Alphabet lose hundreds of billions in value in post-earnings stock plunge
Spending figures at both companies were offset by some bright spots. There were signs that some of Google's investments were beginning to pay off. Google's cloud revenue jumped 82% to $24.8 billion, beating forecasts.
- ▪Spending figures at both companies were offset by some bright spots.
- ▪There were signs that some of Google's investments were beginning to pay off.
- ▪Google's cloud revenue jumped 82% to $24.8 billion, beating forecasts.
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Spending figures at both companies were offset by some bright spots. There were signs that some of Google's investments were beginning to pay off. Google's cloud revenue jumped 82% to $24.8 billion, beating forecasts. "This is one of the strongest revenue growth quarters that Alphabet has had in five years, and Alphabet is a really great barometer for this whole AI wave," Alison Porter, portfolio manager at Janus Henderson, told CNBC's "Squawk Box Europe" on Thursday.Porter pointed to the strong revenue growth of Google Cloud as well as the jump in the division's operating margin to 35.6% in the second quarter from 20.7% in the same period last year as proof of the company's strong performance as a result of its investments."We think this look is ...
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