Alphabet reported stronger-than-expected second-quarter results on July 22, with cloud revenue surging 82% to $248 billion and search revenue climbing 17%. The company posted quarterly revenue of $1.198 trillion and earnings per share of $2.85, while capital expenditure doubled from a year earlier to $449 billion.
The results came as U.S. equity benchmarks retreated. The S&P 500 dipped 0.14% to 7,498.96 and the Nasdaq Composite fell 0.57% to 25,690.90. Tesla disappointed with adjusted earnings of $0.33 per share, missing the $0.50 consensus.
Elsewhere, Super Micro Computer surged 19.84% after raising fourth-quarter margin guidance and reporting record backlog. Advanced Micro Devices gained 1.45% on a multi-billion-dollar AI server deal with Anthropic. Brent crude touched $95 per barrel, while analysts warned that hyperscaler free cash flow could turn negative this quarter.