Google stock jumped 10% this week, fueled by cloud, ads and hope in AI
Publishing timestamp: 2023-07-29 13:34:17
Summary
Alphabet's stock rose 10% after reporting better-than-expected second quarter earnings and revenue. Despite challenges in the ad market and the expected CFO change, the company showed steady growth and its highest closing price in over a year. Google's revenue rose 7% and its ad revenue increased 3.3% from the previous year. The growth in revenue and search business relieved investors and indicated a positive outlook for the online advertising environment.
Sentiment: POSITIVE
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