Gemini · Google · Wall Street · OpenAI · The Guardian Technology
Google posts 12th consecutive quarter of strong revenue gains
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Google’s parent company, Alphabet, reported double-digit revenue growth for its second-quarter earnings on Wednesday.
Key facts
- On Tuesday, Google announced that it was releasing three cheaper AI models into its Gemini suite, including Gemini 3.6 Flash, Gemini 3.5 Flash Cyber and Gemini 3.5 Flash-Lite
- On Wednesday, it reported earnings of $9.11 per share, beating Wall Street’s expectations
- Alphabet is already one of the top five most valuable companies in the world, worth about $4.2tn
- Google said it was taking an “intentional approach” in deploying 3.5 Flash Cyber and it “will be exclusively available to governments and trusted partners
Summary
The better-than-expected results come as investors evaluate how Alphabet’s huge spending on AI has affected its bottom line and what its long-term plans are to sustain those enormous investments. Alphabet is already one of the top five most valuable companies in the world, worth about $4.2tn. “Our AI investments are redefining what’s possible across every part of our business,” Sundar Pichai, the CEO of Google and Alphabet, said in a statement. The gargantuan earnings come, however, as Google is recovering from delays in its most prominent and powerful AI model, Gemini Pro.