- Alphabet reported $28.2 billion earnings in Q2, a nearly 20% increase year-on-year
- Overall revenue grew 14% to $96.4 billion, surpassing Wall Street's expected 10.9% growth
- CEO Sundar Pichai highlighted Alphabet's 10-year milestone and growth in Cloud and YouTube
Google's parent company, Alphabet, recently reported its quarterly results that exceeded expectations. The company earned $28.2 billion during the second quarter, a nearly 20% increase from the previous year. The company's overall revenue also grew 14% to $96.4 billion, exceeding the 10.9% growth Wall Street had expected. Soon after the earnings calls, Alphabet CEO Sundar Pichai took to X to share the good news. In his post, he also spoke about Alphabet's 10-year milestone.
"Just got off the earnings call - great quarter and it was our (and my) 40th call as Alphabet. August will mark 10 years since we announced Alphabet. Been thinking about the incredible growth in our new businesses since then - Cloud, YouTube, Play, Subscriptions etc," he wrote. "To give a sense of progress, in 2015 all of Alphabet's revenue added up to $75B. YouTube and Cloud alone ended 2024 at an annual run rate of $110B," the Indian-origin CEO added.
Mr Pichai's post quickly caught the attention of social media users, with many praising the tech CEO on Google's quarterly results. Tesla CEO Elon Musk also reacted to the post with one word. "Impressive," he wrote.
The conversation between the two tech titans did not end here as Mr Pichai responded to Musk's comment with a folded hands emoji. "Serious money," the Tesla chief wrote in another comment.
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Notably, Alphabet's blockbuster earnings report has catapulted Sundar Pichai into the billionaire ranks. According to the Bloomberg Billionaires Index, the Indian-origin CEO is now worth $1.1 billion, driven largely by Alphabet's rally and years of steady compensation.
Mr Pichai also reached another key milestone this month by becoming Alphabet's longest-serving CEO. He joined Google in 2004 as the head of product management and development. Over the years, he led the company to focus on several innovative products and services.
Mr Pichai became Google CEO in 2015, and then, when Google became a subsidiary of Alphabet Inc., he took on the additional role of CEO for the parent company.
