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The Economist
The Economist
31 Oct 2024


NextImg:Business

Alphabet’s latest earnings pleased investors. Revenue from Google Cloud rose by 35%, year on year, and operating profit in the division surged from $266m to $1.9bn, allaying worries about small returns from the huge amount of money that Alphabet is spending on artificial intelligence. Overall net profit increased by 34%, to $26.3bn. Microsoft also reported big increases in revenue and profit on the back of its cloud-computing business. AI services accounted for 12 percentage points of quarterly growth at its data centres.

This article appeared in the The world this week section of the print edition under the headline “Business”