$GOOG (+4.1% AH) beat on the top and bottom lines, fueled by GOOG Cloud +35% YoY (vs +28% exp). Total revs were +16% YoY vs +14% exp. GOOG Advertising was up +10.4% (vs +9.8% exp), throwing cold water on bears’ argument that AI solutions were taking share from GOOG search. YouTube revs were +11% in line with consensus. Adj EPS $2.12 vs $1.84 exp. At 22x FY’EPS with 15% rev growth, GOOG still looks cheap.
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