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Alphabet posts strong financial results
Both revenue and profit exceeded market expectations.
- Digital advertising business: Revenue of 65.850 billion dollars (previous year 59.650 billion dollars).
- YouTube advertising revenue: A 12% increase to 8.920 billion dollars, surpassing 50 billion dollars over the past four quarters.
- Cloud services: Revenue of 11.350 billion dollars, exceeding analyst estimates of 10.860 billion dollars.
- Earnings per share: $2.12 (analyst estimate $1.85).
- Total revenue: A 15% increase compared to the previous year at 88.270 billion dollars (estimate 86.3 billion dollars).
- CEO Sundar Pichai's comment: "Investments in AI are bearing fruit in the search and cloud businesses." $Alphabet-C (GOOG.US)$
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