By skyforbes 
Featured
Originally published in German at tinztwinsinvest.de.
Alphabet exceeded all expectations with its Q3 results. The ongoing boom in AI services led to record revenue of over 100 billion US dollars for the first time.
The details
- Alphabet’s total revenue increased from 88.27 billion US dollars in the previous year’s quarter to an impressive 102.35 billion US dollars. Analysts had expected significantly less.
- The net income increased to 34.97 billion US dollars (up from 26.31 billion US dollars in the same quarter last year), even though Alphabet had to pay a 2.95 billion euro EU antitrust fine in September.
- In the cloud business, revenue increased significantly by 34% to 15.16 billion US dollars. The reason for this is the ongoing boom in demand for AI services like Google’s AI platform Gemini.
- Currently, over 650 million users actively use the Gemini app each month. In July, the company reported 450 million users. OpenAI recently reported that ChatGPT has 800 million weekly users.
Our thoughts
From our perspective, Alphabet’s Google Gemini could soon become the most popular AI app. The full-stack approach with its own cloud infrastructure and data from Google Search is invaluable.
We have been using Gemini for several months for developing software projects, conducting research, and assisting with social media posts. In our view, Gemini is currently the best AI on the market.
More information: 🔗 Alphabet Q3 Earnings
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Disclaimer: All texts, notes, and information provided by Tinz Twins Invest do not constitute investment advice or a recommendation to buy or sell securities. They are for personal information only and reflect the opinion of the authors.