The sunny report establishes a continued rebound for the tech company after a difficult 2022 and thousands of job cuts

Alphabet stocks rose in after-hours trading on Tuesday after the Google parent company’s second-quarter profits exceeded Wall Street expectations, amid a rebound in advertising dollars and the growing boom in artificial intelligence.

The company reported net profits of $1.44 per share for the April-June period, compared with estimates of $1.34 per share. Revenue for the quarter stood at $74.6bn, compared with estimates of $72.82bn, according to Refinitiv data.