Alphabet's Q2 earnings expected to benefit from strong Google Cloud growth.

From Nasdaq: 2024-07-19 11:45:00

Alphabet’s second-quarter 2024 results are expected to benefit from the growth of its cloud service arm, Google Cloud, with revenues rising 28.4% year over year in the first quarter to $9.6 billion.

In the second quarter, Google Cloud is projected to see a 25.5% revenue growth, reaching $10.08 billion, driving Alphabet’s overall top-line growth.

Alphabet’s focus on generative AI, including new tools like MaxDiffusion and Gemma, has helped drive customer momentum and increase revenue.

The company’s partnerships with Workday and Cintas, using generative AI technologies, are expected to accelerate Alphabet’s revenue growth in the future.

A massive infrastructure stock boom in the U.S. is imminent, with trillions to be spent on rebuilding roads, bridges, and buildings, creating investment opportunities in related companies.

Zacks offers a Special Report on 5 companies poised to benefit from the infrastructure spending, providing insights on potential growth stocks in this sector.



Read more at Nasdaq: Will Alphabet’s (GOOGL) Q2 Earnings Gain From Google Cloud?