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On Wednesday, following the close of the market in Eastern Time, Alphabet, the parent company of Google, disclosed its financial performance for the second quarter of 2026. The earnings report revealed that the company's revenue soared to $119.796 billion, marking a 24% year-on-year increase. Its net profit reached $112.107 billion, an impressive surge of 298% compared to the same period last year. Notably, the Google Cloud division emerged as a significant growth driver, with its revenue skyrocketing by 82% year-on-year to $24.768 billion. In a strategic move to bolster its AI infrastructure development, Alphabet also revised its full-year capital expenditure projection upwards, now estimating it to range between $195 billion and $205 billion.
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