Google Cloud backlog reached 155 billion dollars in Q3-FY25, up 46% QoQ and 82% YoY, signaling sustained AI demand. Over 70% of Google Cloud customers now use AI products, with more billion-dollar contracts signed than the previous two years combined. Cloud revenue rose 34% YoY to 15.2 billion dollars, while operating income increased 85% to 3.6 billion dollars and margins hit 23.7%.
Once a money-losing backwater, Google Cloud has become one of Alphabet's fastest-growing businesses, powered by massive bets on AI and years of costly investment in datacenters, custom chips, and networking gear.
The search giant becomes the biggest name yet to generate an ad entirely with its Veo 3 and other artificial-intelligence tools.
Reliance Intelligence partners with Google to provide free subscription of Gemini AI to Jio telecom customers for 18 months . Perplexity AI has tied up with India's second largest telecom provider Bharti Airtel to provide free services for a year.
Spiking as much as +6% in Thursday's trading session, Alphabet (GOOGL) stock has started to challenge Nvidia (NVDA) for the most year-to-date gains from the Mag 7.
Digesting the first batch of Mag 7 earnings
GOOGL's Q3 results shine as AI-driven growth in Search, YouTube and Cloud propel revenues and earnings well past estimates.
Major U.S. equities indexes were mixed Thursday afternoon as President Donald Trump met with Chinese leader Xi Jinping on trade issues and investors digested several big tech earnings reports. The Dow Jones Industrial Average rose but the S&P 500 and Nasdaq were lower.
Alphabet's strong Q3 earnings lifted its shares and boosted investor sentiment. Explore top ETFs that could benefit from the company's impressive performance.
Oppenheimer & Co analysts late Wednesday raised their target price on Alphabet Inc (NASDAQ:GOOG) to $345 per share, from $300, while reiterating their ‘Outperform' rating, believing that AI is driving an "expansionary moment for Search." The analysts also believe Google Cloud's momentum is accelerating, with the division of Alphabet approaching profitable growth as the third-largest cloud provider.
Alphabet (GOOGL) shares jumped to a record high Thursday after the Google parent reported earnings that topped Wall Street estimates, as quarterly revenue surpassed $100 billion for the first time.
The company's third-quarter earnings, reported after the close on Wednesday, Oct. 28, shattered expectations, sending shares surging roughly 7% in after-hours trading.