Google's Q2 net profit increased by 19%, raising the full-year capital expenditure forecast to $85 billion.

According to Jin10 data on July 24, Google's (GOOG.O) parent company Alphabet reported a net profit rise of 19% year-on-year to $28.196 billion for the second quarter, with revenue rising 14% to $96.43 billion, exceeding market expectations of $94 billion. In Q2, Google's service revenue rose 12% to $82.5 billion, with YouTube ad revenue at $9.79 billion; Google Cloud revenue grew 32% to $13.6 billion, higher than the expected $13.11 billion. The company expects that with increased investments in artificial intelligence, capital expenditures will reach $85 billion this year, compared to the earlier projected spending of $75 billion.