Alphabet delivers Q2 beat with cloud revenue surging 82%, capex disappoints - update
Complete. Here is the key summaryAlphabet reported a Q2 earnings beat with cloud revenue surging 82% to $24.8B, but shares remained flat due to tepid capex and an operating margin miss. Adjusted EPS came in at $2.85, below the $2.91 estimate, overshadowing the top- and bottom-line beats.
Updated 16:54ET with comments from the earnings call, including adjusted EPS of $2.85 versus $2.91 estimates. Alphabet (GOOG) (GOOGL) shares are only fractionally higher as tepid capex and a miss on operating margin overshadowed a top- and bottom-line beat and an 82% surge in the company’s cloud revenue to a better-than-expected $24.8B, beating exp...