New Delhi, July 24 -- Alphabet, the parent company of search giant Google, reported second quarter earnings on Wednesday that strongly beat Wall Street estimates led by new AI features and a steady digital advertising market. The company also announced a hike in capex plans for 2025, and predicted a further increase next year.

Alphabet reported a net profit of $28.2 billion, or $2.31 per share, during the April-June quarter, registering a growth of 19% from the same time last year. The company's revenue rose 14% from a year ago to $96.4 billion, beating analysts' projections, driven by Google cloud's sales.

Google's cloud-computing unit reported quarterly revenue of $13.6 billion, up nearly 32% and well above estimates for a 26.5% incre...