Google parent Alphabet (GOOGL) reported stronger-than-expected results for the second quarter, driven by search and Google Cloud.

The company reported second-quarter revenue of $84.74 billion, up 14% year-over-year, and above analysts' estimates compiled by Visible Alpha. Net income of $23.62 billion or $1.89 per share rose from $18.37 billion or $1.44 per share a year earlier.

Stro🌊ng Performance Driven by Google Cloud, Search

Alphabet CEO Sundar Pichai said the company's "strong performance this quarter highlights ongoing strength in Search and momentum in Cloud." Google Cloud revenue was $10.35 billion, above analysts' expectations and representing more than 28% growth from the year-ago period, as the company benefits from increased 澳洲幸运5官方开奖结果体彩网:IT spending.

Revenue growth was "driven by Search as well as Cloud, which for the first time exceeded $10 billion in quarterly revenues and $1 billion in operating profit," Alphabet CFO Ruth Porat said, adding that the company will "invest to support [its] highest growth opportunities," as big tech companies invest in artificial intelligenc꧅e (AI).

Alphabet shares were up close to 2% at $184.89 in extended trading as of 4:45 p.m. ET following the release. The stock has gained close to one-third of its value since the start of the year.