Google's (Alphabet) Q2 financial report is out.
• Grew revenue 24% to $119.8B YoY, beats estimates, coming in above the roughly $116.9B analysts expected.
• Google Cloud really carried the quarter, with its revenue climbing by 82% to $24.8 B. Its operating margin nearly doubled to 35.6%, and the backlog now sits at $514 B.
• Gemini also gained ground, reaching 950M monthly users and 22B tokens per minute across the model APIs.
• Search revenue grew 17% to $63.3 billion, while YouTube advertising grew by 13%.