Alphabet rose more than 7% on earnings after hours, as ad revenue slowdown turns out to be less than feared. Though $33.8 billion of Google’s total quarterly revenue of $41.16 billion came from advertising, a reflection of its continued reliance on a battered market, there is a silver lining. Sales from Google Cloud and YouTube continued to surge, underscoring versatility in the company’s overall product line — YouTube ad revenue increased 33.4%, to $4.04 billion from $3.03 billion a year ago, while Google Cloud sales grew 52%, to $2.78 billion from $1.83 billion.
MHH Price at posting:
$1.39 Sentiment: Buy Disclosure: Held
