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Investing.com -- Alphabet Inc Class A (NASDAQ:GOOGL) on Wednesday reported second-quarter results ahead of Wall Street estimates. The company also raised its 2025 capital spending outlook.
Shares fell more than 2% in extended trading.
The Google parent posted earnings per share of $2.31, above analysts’ expectations of $2.17.
Revenue for the quarter rose to $96.43 billion, compared with a consensus estimate of $93.9 billion.
The company said it now expects capital expenditures to reach about $85 billion in 2025, up from a prior forecast of $75 billion, as it ramps up investment in artificial intelligence and cloud infrastructure.
The increase represents a 13.3% rise from 2024 levels.
CEO Sundar Pichai said the quarter saw “robust growth across the company,” citing momentum in search, YouTube, and the cloud business, which now has an annual revenue run-rate exceeding $50 billion.
“With this strong and growing demand for our Cloud products and services, we are increasing our investment in capital expenditures in 2025 to approximately $85 billion and are excited by the opportunity ahead,” Pichai said in the statement.