Wednesday’s report follows Alphabet’s better-than-expected Q1 release earlier this year, in which the company reported year-over-year growth of 12% and 49% for its top and bottom lines, respectively, after Google’s search unit generated more in sales than analysts projected.

The search giant predicted a further capital spending boost next year and cited massive demand for its cloud computing services.

StreetAccount The company’s overall revenue grew 14% year over year, higher than the 10.9% Wall Street expected, but Alphabet is going to spend more on artificial intelligence in 2025 than it anticipated.