04:33 PM EDT, 07/23/2024 (MT Newswires) -- Alphabet (GOOG, GOOGL) late Tuesday reported stronger-than-expected second-quarter results, driven by strength in the Google ( GOOG ) parent's search and cloud businesses.

Per-share earnings rose to $1.89 for the June quarter from $1.44 a year earlier, compared with the consensus among analysts on Capital IQ for $1.85. Revenue advanced 14% to $84.74 billion, ahead of Wall Street's view of $84.29 billion.

Google ( GOOG ) services revenue increased to $73.93 billion from $66.29 billion. Search advertising revenue grew to $48.51 billion from $42.63 billion while YouTube ( GOOG ) ads brought in $8.66 billion, up from $7.67 billion last year. Network advertising revenue fell year-over-year.

"Our strong performance this quarter highlights ongoing strength in search and momentum in cloud," Chief Executive Sundar Pichai said in a statement.

Revenue in the Google ( GOOG ) cloud segment rose to $10.35 billion from $8.03 billion. The division exceeded $10 billion in quarterly revenues for the first time, Chief Financial Officer Ruth Porat said.

"We remain committed to creating investment capacity with our ongoing work to durably re-engineer our cost base," Porat said.

Price: 185.84, Change: +2.24, Percent Change: +1.22