Google Q2 net profit increases by 19%, raises full year capital expenditure forecast to $85 billion

According to a report by Golden Finance, Alphabet, the parent company of Google (GOOG. O), saw a 19% year-on-year increase in net profit to $28.196 billion and a 14% increase in revenue to $96.43 billion in the second quarter, exceeding market expectations of $94 billion. Google's service revenue increased by 12% to $82.5 billion in Q2, with YouTube advertising revenue reaching $9.79 billion; Google Cloud's revenue increased by 32% to $13.6 billion, higher than the expected $13.11 billion. The company expects that with increased investment in artificial intelligence, capital expenditures will reach $85 billion this year, compared to an earlier estimate of $75 billion.