Sundar Pichai, chief executive officer at Google LLC, speaks during the Google Cloud Next '19 event in San Francisco, California, U.S., on Tuesday, April 9, 2019.
Shares of Alphabet rose nearly 5.5% at the start of trading Wednesday, driven by stronger-than-expected second-quarter earnings and marked year-over-year growth in cloud computing revenue.
But it was strong growth in cloud computing that stood out the most, with the company reporting $8.03 billion in Google Cloud sales, compared to a StreetAccount consensus of $7.87 billion.
Google Cloud competes with Amazon Web Services and Microsoft Azure.
The company also announced Wednesday that chief financial officer Ruth Porat would assume a newly created president and chief investment officer position.
Persons:
Sundar Pichai, Goldman Sachs, Eric Sheridan, Ruth Porat, Porat, — CNBC's Jennifer Elias
Organizations:
Google LLC, Google, Revenue, Amazon Web Services, Microsoft, Wall Street
Locations:
San Francisco , California, U.S