Google's corporate parent posts first-ever quarter with $100B in revenue in latest show of its power

Core Insights - Alphabet Inc. achieved its first-ever quarter with over $100 billion in revenue, highlighting the strength of its internet business despite legal challenges and competition [1] - The company reported a profit of nearly $35 billion, or $2.87 per share, marking a 33% increase year-over-year, with revenue rising 16% to $102.3 billion, surpassing analyst expectations [3] Financial Performance - Alphabet's stock price increased by more than 6% following the third-quarter results, indicating strong investor confidence [4] - Since early September, Alphabet's shares have surged by 30%, adding nearly $770 billion in shareholder wealth, following a court ruling that did not mandate a breakup of Google [5] Competitive Landscape - The court's ruling reflects a belief that advancements in AI technology are providing consumers with more alternatives to Google's services, such as ChatGPT and Perplexity [6] - Competitors like OpenAI and Perplexity have launched AI-powered web browsers to challenge Google's Chrome [7] AI Integration and Future Investments - Google is integrating more AI features into its products, with CEO Sundar Pichai reporting that the AI-powered Gemini app has reached 650 million monthly users [8] - The company plans to increase its capital expenditures to $91 billion to $93 billion this year, primarily for data centers to support AI initiatives, up from $85 billion previously [9]