That’s because expectations were high for the AI-driven cloud unit and, despite all of its growth, it still disappointed.Ĭompare that to Microsoft. Apparently companies are spending money on online ads again. That includes, as chief financial officer Ruth Porat put it, “meaningful growth in search and YouTube,” with $44 billion and $7.95 billion, respectively.

Google Cloud hit $8.4 billion with 23 percent growth, while ad sales shot up 18 percent, nearly reaching $60 billion in revenue. Parent company Alphabet had a great quarter overall, with revenue and income jumping 11 percent to $76.7 billion and 25 percent to $21.3 billion, respectively.

That matters to everyone who relies on these platforms, including fashion, for which the most important takeaway may be this: The race for AI, which is already evident in ad products and a growing array of other tools, is only just getting started. Cue the mad race to catch up, with a furious array of launches and updates amid critical organizational changes. Companies like Google, Amazon and Meta - all of which have spent years touting significant chops in AI and machine learning - were seemingly caught off-guard as the AI explosion ignited over the past year. The broad brush strokes paint a portrait of a tech sector in flux, as it continues facing a new reality where merely dominating search, computer software, e-commerce, social media, mobile devices and more is no longer enough.

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