Alphabet Profit Misses, Capex Soars

Alphabet reported Q2 revenue of $119.8 billion, beating estimates, but earnings of $2.85 per share missed the $2.89 forecast. The stock fell over 2% after the company raised its 2024 capex forecast to $195-$205 billion. Google Cloud revenue hit a record $22.4 billion, up 64%, while Search revenue of $63.3 billion slightly missed targets.