6 days ago
Shares in Google parent Alphabet rise after capex plans boost
MILAN, July 24 (Reuters) - Alphabet (GOOGL.O), opens new tab shares rose 2.5% in early European trading on Thursday after the Google parent company raised its capital spending plans, following a strong beat of Wall Street estimates for quarterly revenue and profit.
On Wednesday, the search giant cited surging demand for its cloud computing services as it increased its capital expenditure forecast for the year to about $85 billion from $75 billion, and signalled a further rise in 2026.
