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Alphabet Stock Surges as Earnings Crush Estimates on Strong Cloud Growth

October 31, 2024
Alphabet Inc., the parent company of Google, reported stellar third-quarter earnings, exceeding expectations and sparking a surge in its stock price. The impressive results were driven by robust growth in its cloud business, which saw a significant increase in demand amid the remote work trend. Alphabet's cloud division, Google Cloud, has been making significant investments in infrastructure and expanding its product offerings, which paid off in the latest financial report. Investors were thrilled with the company's strong performance and optimistic about its future growth prospects.
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