2025 年1 季度收入高于一致预期,净利润大幅超一致预期公司1Q25 收入902.3 亿美元,基本符合我们预期,超一致预期1.2%,同增12%,其中Google 广告业务收入和Google 云收入基本符合一致预期;净利润345.4 亿美元,超我们预期39%,高于市场预期40%,同增46%,主要系公司于1Q25 大幅计提80 亿美元投资公司的公允价值变动。发展趋势AI 为搜索带来增量。大模型方面,...
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