Google’s Cloud Business Powers Accelerating Revenue Growth

Google’s cloud business accelerates revenue growth. Meanwhile, the slowdown in search and YouTube growth suggests weakness in the advertising sector. Google reported accelerated revenue growth thanks to strong performance in its cloud-computing division, which has boosted the company’s fortunes during costly advancements in the AI sector.

Parent company Alphabet (GOOGL) rose 1.78%, recording total revenue of $88.3 billion, a 15% increase compared to the same period last year, and up from a 14% increase in the second quarter. However, Google’s search engine and YouTube video platform reported slowing revenue growth for the second consecutive quarter, signaling challenges in its advertising business.

Source: The Wall Street Journal

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