Alphabet Reports Record $102.3B Revenue, Led by AI-Driven Growth in Cloud Business

Alphabet, parent company of Google, reported a $102.3 billion revenue in Q3, a 16% YoY increase, driven by strong growth in its core search business and cloud division, which was buoyed by AI. Net income surged 33% to $35 billion. Google Cloud revenues soared 34% to $15.2 billion, while YouTube advertising revenues grew to $10.3 billion. Alphabet expects 2025 capital expenditures of $91-$93 billion, with spending set to increase next year.