Alphabet Inc. reported a mixed earnings performance for Q2 2024, with revenues of $84.74 billion and net income up 28.6% year-over-year. However, ad sales growth slowed to 11.1%, disappointing investors and leading to a nearly 2% drop in stock value post-announcement. YouTube's ad revenue growth also lagged behind expectations, raising concerns about its performance compared to Google Search, which continued to show resilience. Despite these setbacks, analysts remain optimistic about Alphabet's strong free cash flow and ongoing investments in AI and cloud services, which generated $10.35 billion in revenue, marking a significant milestone. CEO Sundar Pichai emphasized that search usage and user satisfaction are increasing, with AI enhancements attracting younger demographics. Overall, while slow growth in advertising raised flags, Alphabet's diverse revenue streams and strategic investments suggest a positive long-term outlook.