Google Search Business Is Hot
Last quarter was superb for Google's parent Alphabet as the company recorded $74.6 billion, buoyed by strong advertising. With this, we can say that Bing's ChatGPT baking has not unleashed any knockout to Google.
Google parent Alphabet isn't sweating the state of online advertising. The tech behemoth's stock bounced in early trading Wednesday after it notched $74.6 billion in second-quarter revenue, up 7% over last year, as the ad market bounces back from a post-pandemic slowdown. Executives cited a strong showing from Google's core search engine business and video platform YouTube. Revenue from Google's cloud business also came in slightly hotter than expected, growing 28% as Google looks to bundle cloud services with new tools powered by generative artificial intelligence.