Google has grown its search and cloud computing businesses over the past few months (from April to June) and has now reported nearly $85 billion in revenue. Alphabet, the company that owns Google, has released its second quarter earnings report, according to which the search division alone generated $48.5 billion in revenue.

According to Alphabet’s financial report, it is the first time that the revenue of Google’s cloud computing division has reached 10 billion dollars, and it has also made a profit of 1 billion dollars. Overall, Google’s revenue increased by 14% compared to the second quarter of 2023 ($74.6 billion), and its net profit increased by 29% to $23.62 billion. (Last year it was $18.37 billion.)

For further comparison, last quarter Alphabet reported revenue of $80.5 billion and net profit of $23.66 billion.

The CEO of Google talks about the importance of artificial intelligence

At the tech giant’s earnings call, Google CEO Sundar Pichai said the company’s AI approaches to cloud customers “have generated billions of dollars in revenue and are used by more than 2 million developers.”

In his statement to investors, Pichai said:

“We are innovating at every layer of artificial intelligence. “Our long-standing leadership in infrastructure and our in-house research teams make us well-positioned to advance this technology and explore the opportunities ahead.”

Last month, it was announced in a report that Google wants to buy Wiz security company for $23 billion. But yesterday it was said that Google’s negotiations to buy Wiz have been cancelled. Also, Google announced yesterday that it will not implement its programs to remove third-party cookies from Chrome.