Google Parent Alphabet's Stock Climbs as AI-Fueled Search Growth Drives Revenue Beat
1. Alphabet's revenue reached $90.23 billion, exceeding expectations by 12%. 2. Net income rose to $34.54 billion, surpassing Wall Street estimates significantly. 3. Google Cloud and Search & Other revenues grew by 28% and 10%, respectively. 4. CEO Pichai noted Search growth attributed to AI features with 1.5 billion users. 5. Alphabet raised dividends by 5% and announced $70 billion in stock buybacks.