Revenues beat analyst expectations as advertising sales jump 11 per cent
Digital advertising sales and healthy demand for its cloud computing services helped Google parent Alphabet beat forecasts in its second quarter. Photograph: Barry Cronin for The Irish Times. Alphabet beat second-quarter revenue estimates on Tuesday, driven by a rise in digital advertising sales and healthy demand for its cloud computing services.
Advertising sales, Alphabet’s chief revenue source, rose 11 per cent to $64.6 billion . The company sells ads in its search product using customer data to better target them. Despite heightened regulatory scrutiny, Google had been pursuing its largest acquisition ever, a roughly $23 billion buyout of cybersecurity firm Wiz. But Wiz told employees on Monday it was walking away from the deal and would instead pursue going public.
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