Google quarterly cloud revenue growth beats expectations

July 22 : Alphabet topped Wall Street estimates for quarterly cloud revenue growth on Wednesday, as the Google parent benefited from strong demand for its cloud computing services from enterprises worldwide thanks to the AI boom.Revenue at Google Cloud rose 82 per cent to $24.8 billion during the quarter ended June, accelerating from the 63 per cent jump reported in the preceding three months. Analysts on average expected a 64 per cent increase, according to data compiled by LSEG.Shares of the company were down more than 1 per cent in extended trading. The third-largest cloud services provider behind Amazon Web Services and Microsoft, Google has seen demand surge as companies race to secure the cloud capacity needed to develop, train and run AI models, helping it land major deals with firm