Alphabet公司公布第二季度财报，营收达119.8亿美元[2]，超过华尔街预期的117.06亿美元[1]。按年同比，营收增长23%[2]。净利润为98亿美元，主要来自股权投资收益[1]。每股收益为9.11美元[1]，相比去年同期的2.31美元[1]大幅提升。
AI投资驱动业务增长
CEO桑达·皮查伊表示，"我们的AI投资正在改变我们业务各个部分的可能性"[1]。Gemini产品接近成为谷歌第三个拥有10亿用户的消费级AI产品[1]，云业务也实现强劲增长[1]。分析师认为这些进展证明了AI投资正在创造实际价值[1]。
现金流压力与支出剧增
尽管营收表现强劲，Alphabet的自由现金流首次跌入负值，达到负59亿美元[2]，为十年来首度出现此情况。这反映了AI基础设施支出的激增[2]。第二季度资本支出高达450亿美元[2]，其中60%用于服务器，40%用于数据中心[2]。公司预计全年AI支出将达205亿美元[2]，较之前预期的190亿美元有所增加[2]。
首席财务官Anat Ashkanazi指出，"当涉及AI时，需求仍然超过投资"[2]。CEO皮查伊也表示，"这看起来像是多个领域转变的早期阶段"[2]。
市场反应分化
财报发布后，股价出现分化反应。一份报道显示盘后股价上涨2.71美元至344.62美元[1]，但另一份报道则指股票下跌4%[2]。
Alphabet Inc. announced second-quarter results that exceeded Wall Street expectations, with revenue reaching $119.8 billion, compared to analyst forecasts of $117.06 billion [1][2]. The company reported earnings per share of $9.11 [1], while net income totaled $9.8 billion, substantially boosted by gains from equity investments [1].
Revenue grew 23 percent year-over-year and expanded 24 percent sequentially from the prior quarter [1][2]. CEO Sundar Pichai stated that "our AI investments are reshaping the possibilities across all parts of our business," signaling the company's commitment to artificial intelligence development [1].
The strong performance reflects momentum in key growth areas. Gemini, Google's AI product, is approaching one billion consumer users, positioning it as the company's third billion-user consumer-grade AI offering [1]. Cloud services also contributed to the beat [1].
However, the earnings revealed mounting financial strain from AI infrastructure buildout. The company's free cash flow turned negative for the first time in a decade, reaching negative $5.9 billion [2]. Capital expenditures in the second quarter reached $45 billion, with 60 percent allocated to servers and 40 percent to data center infrastructure [2]. Alphabet now projects total AI spending of $205 billion for the year, up from an earlier estimate of $190 billion [2].
CFO Anat Ashkanazi commented that "when it comes to AI, demand still exceeds investment" [2], while Pichai described the developments as "an early stage of transformation across multiple domains" [2].
Stock performance diverged between afterhours trading, with shares rising $2.71 to $344.62 in one period [1], though the company's stock later declined 4 percent reflecting concerns about the cash burn rate [2].