$Alphabet(GOOG)$ $Alphabet(GOOGL)$ Search is doing OK with 10% revenue growth. But that's not the story for Alphabet.
YouTube continues to be the biggest streaming service (bigger than $Netflix(NFLX)$ ) with 10% growth in ads. Netflix is worth $470 billion, so is YouTube worth over $500 billion?
Subscriptions and services are the under-discussed segment. Revenue was up 19% and this is driven by Android and subscriptions that include Gemini!
Finally, Google Cloud did $12.3 billion in revenue with an 18% operating margin. At that runrate, this may be a $1 trillion business.
As a business, Alphabet is doing great. Don't underestimate the company's lead in AI and how it will extend that with leading infrastructure.
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