Alphabet Q2 Earnings: Revenue Beat, EPS Beat, Innovation At 'Every Layer Of The AI Stack' And More

Alphabet Inc GOOG reported second-quarter financial results after the market close on Tuesday. Here’s a look at the key numbers from the quarter.

Q2 Earnings: Google parent Alphabet reported second-quarter revenue of $84.742 billion, beating the consensus estimate of $84.202 billion. The tech giant reported quarterly earnings of $1.89 per share, beating analyst estimates of $1.85 per share.

Alphabet has now beat analyst estimates on the top and bottom lines in six consecutive quarters, according to data from Benzinga Pro.

Total revenue was up 14% year-over-year, driven by ongoing strength in Search and momentum in Cloud. Google Search revenue was $48.509 billion in the quarter, Google Advertising revenue was $64.616 billion, YouTube advertising revenue came in at $8.663 billion and Google Cloud revenue totaled $10.347 billion.

“We are innovating at every layer of the AI stack. Our longstanding infrastructure leadership and in-house research teams position us well as technology evolves and as we pursue the many opportunities ahead,” said Sundar Pichai, CEO of Alphabet.

See Also: Google’s Cookie Monster: Why The Tech Giant’s U-Turn Is Making Waves In Ad Industry

Alphabet also announced a cash dividend of 20 cents per share to be paid on Sept.16 to shareholders of record as of Sept. 9.

“As we invest to support our highest growth opportunities, we remain committed to creating investment capacity with our ongoing work to durably re-engineer our cost base,” said Ruth Porat, president and CFO of Alphabet.

Alphabet didn’t provide forward guidance in its earnings release. Management will hold a conference call to discuss these quarterly results at 4:30 p.m. ET.

GOOG Price Action: Alphabet shares were down 0.11% after hours at $183.40 at the time of publication, according to Benzinga Pro.

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