CNBC July 25, 2023
Key Points
– Alphabet second-quarter revenue rose 7% from the year prior.
– Cloud revenue climbed 28%.
– The company said Ruth Porat is leaving the CFO role to become president and chief investment officer.
Alphabet shares rose about 7% in extended trading on Tuesday after the company reported better-than-expected revenue and profit, driven by growth in its cloud-computing unit.
- Earnings: $1.44 per share vs. $1.34 per share, adjusted, expected by Refinitiv.
- Revenue: $74.6 billion vs. $72.82 billion expected by Refinitiv.
The company also reported the following numbers:
- YouTube ads: $7.67 billion vs. $7.43 billion, according to Street Account.
- Google Cloud: $8.03 billion vs. $7.87 billion, according to StreetAccount.
- Traffic acquisition costs: $12.54 billion vs. $12.37 billion,...
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