Alphabet Raises Capex to Up to $205 Billion as Google Cloud Grows 82%
Alphabet plans to raise capital expenditures to up to $205 billion this year, up from an earlier outlook of $180 billion to $190 billion, a move that has hurt investor sentiment despite strong second-quarter results. Google Cloud revenue rose 82% year over year, but the company reported negative free cash flow for the first time as it warned capex may increase again next year.
Coverage (2)
- Sundar Pichai's Alphabet Has Grown Google Cloud Revenue 82% Year Over Year. Here's Why That Growth Rate Justifies the Company's Capex Bet. (fool.com)
- Sundar Pichai's Alphabet Has Grown Google Cloud Revenue 82% Year Over Year. Here's Why That Growth Rate Justifies the Company's Capex Bet. (finance.yahoo.com)