Alphabet (GOOG.US) reported second-quarter cloud business revenue that exceeded Wall Street expectations, but its search engine business sales were slightly below forecasts, potentially fueling market concerns about the company’s massive investment in artificial intelligence. For the quarter ended June 30, Alphabet’s cloud business sales totaled $24.77 billion, up 82% from the same period last year and surpassing analysts’ expectations of $22.34 billion. Search advertising revenue reached $63.2

Alphabet (GOOG.US) reported second-quarter cloud business revenue that exceeded Wall Street expectations, but its search engine business sales were slightly below forecasts, potentially fueling market concerns about the company’s massive investment in artificial intelligence. For the quarter ended June 30, Alphabet’s cloud business sales totaled $24.77 billion, up 82% from the same period last year and surpassing analysts’ expectations of $22.34 billion. Search advertising revenue reached $63.2

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Alphabet (GOOG.US) reported second-quarter cloud business revenue that exceeded Wall Street expectations, but its search engine business sales were slightly below expectations. This may heighten market concerns about its massive investments in artificial intelligence. For the quarter ending June 30, Alphabet’s cloud business revenue totaled $24.77 billion, up 82% from the same period last year. This figure was higher than analysts’ expectations of $22.34 billion. Search advertising revenue was $63.27 billion, slightly below the expected $63.28 billion. Alphabet is the first major U.S. tech company to release its earnings this quarter, providing the market with an early indicator for future performance.

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