#GOOG Google's revenue hit $109.9 billion (+22%), with EPS at $5.11 smashing expectations by 93%. Google Cloud soared +63%, with a cloud business backlog of $460 billion (up from $240 billion last quarter, doubling in a single season).
Earnings exceeded estimates, with significant gains in AI-driven cloud business, as well as a surge in advertising revenue, far surpassing analyst projections.
Investments in AI haven't been disproven; there's real demand, and it's accelerating. The bullish sentiment is clearly expressed by the strong breakout in the market.
The chart shows references for the first gap up and the second gap up.
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