Alphabet(US:GOOGL) 智通财经网·2025-10-30 08:36Core Insights - Google reported Q3 FY25 revenue of $102.3 billion, a 16% year-over-year increase, with net profit rising 33% to $35 billion, driven by strong performance in cloud services and AI products [1][2] Financial Performance - Revenue reached $102.3 billion, up 16% year-over-year (15% at constant currency) [1] - Operating profit was $31.2 billion, a 9% increase, with an operating margin of 30.5% [1] - Net profit increased to $35 billion, with earnings per share at $2.87, reflecting a 35% growth [1] Cloud Business - Google Cloud revenue was $15.2 billion, a 34% year-over-year increase, primarily driven by strong demand for AI products [1][2] - The company has a backlog of $155 billion in orders, a 46% quarter-over-quarter increase and an 82% year-over-year increase, indicating robust demand for enterprise AI solutions [1][2] AI and Technology Infrastructure - Google is the only major cloud provider offering both NVIDIA GPUs and its own TPUs, with significant expansion in TPU capacity to meet demand [2] - The company is focusing on AI-driven solutions, with enterprise contracts exceeding the total of the past two years in the first nine months of 2025 [2] User Engagement and Search Innovations - AI Overview has reached over 2 billion users, enhancing monetization opportunities, while click-through rates and costs per click have both increased by 7% year-over-year [6][11] - AI Mode has over 75 million daily active users in the U.S., with query volume doubling since its launch [10] YouTube and Monetization Strategy - YouTube's dual revenue model, combining advertising and subscription services, has shown strong growth, with subscription users generating higher average profits than ad-supported users [8] - The platform's growth is driven by a flywheel effect, where increased creator investment leads to more user engagement and revenue generation [8] Future Outlook - The company anticipates continued strong demand for cloud services, with projected capital expenditures for 2025 between $91 billion and $93 billion [1] - Ongoing investments in AI infrastructure and technology are expected to sustain growth and improve operational efficiency [7][11]