Alphabet Revenue Surges, But Capital Expenditures Cause Concern

Alphabet's second-quarter revenue rose 24% year-over-year to $119.8 billion, according to the latest financial reports.

The tech giant's Google Cloud division saw a significant surge in revenue, jumping 82% to $24.8 billion, with operating profit increasing by 30% to $40.8 billion.

However, Alphabet's capital expenditures doubled to $45 billion during the period, resulting in a free cash flow loss of $5.9 billion.

The company's share price currently hovers between $337.85 and $352.81, with technical signals indicating a 70% probability of further downside.