原文：
Serenity 白毛女-中文翻译（公开）
Serenity 白毛女-中文翻译（公开）
原文：
$GOOGL reported earnings today:
EPS: $9.11 actual vs $2.91 expected - retail reactions to EPS blowout is kinda just accounting noise, since $SPCX, Anthropic, and others were likely large contributors.
Revenue: $119.7B actual vs. $116.98B expected
Google Cloud Revenue: $24.77B +82% Y/Y, vs. 63-65% expected ($22.2-$22.6B) - this is a very large beat and most material part so far.
Cloud Operating Income: ~$8.81B, implying 35.6% margin vs. 32.9% Q1.
Capex: $44.92B vs ~$44.15B (basically in line).
So initial read through is Google Cloud accelerating growth with expanding margins is genuinely bullish for AI demand.
Their former $180-$190B capex guidance is already extremely large, and as long as we get around these numbers in the earnings call + forward projections...
Should be good to go for $LITE and the other optics/networking trade. (eg. last earnings, they said DC and networking would be ~40% of capex spend).
Hyperscaler earnings transcripts are probably the most important thing to pay attention to with the AI capex trade.
And that should be in 3 minutes.
翻译：
$GOOGL 今日公布了财报：
每股收益：实际值为 $9.11，预期值为 $2.91 - 对于每股收益的反应基本上只是会计噪音，因为 $SPCX、Anthropic 等可能是主要贡献者。
收入：实际值为 $119.7B，预期值为 $116.98B
Google 云服务收入：$24.77B，同比增长 82%，预期值为 63-65%（$22.2-$22.6B）- 这是一个非常大的超预期，目前为止最重要的部分。
云服务营业收入：约 $8.81B，利润率为 35.6%，较第一季度的 32.9% 有所提高。
资本支出：$44.92B，预期值为约 $44.15B（基本持平）。
初步分析表明，Google 云服务加速增长，利润率扩大，对 AI 需求来说是真正的看涨信号。
他们之前的 $180-$190B 资本支出指导已经非常庞大，只要在财报电话会议和未来预测中保持这些数字...
对于 $LITE 和其他光学/网络交易来说应该是好消息（例如，上次财报，他们表示数据中心和网络将占资本支出的大约 40%）。
超大规模服务器厂商的财报记录可能是关注 AI 资本支出交易最重要的事情。
而这将在 3 分钟内发生。
$GOOGL reported earnings today:
EPS: $9.11 actual vs $2.91 expected - retail reactions to EPS blowout is kinda just accounting noise, since $SPCX, Anthropic, and others were likely large contributors.
Revenue: $119.7B actual vs. $116.98B expected
Google Cloud Revenue: $24.77B +82% Y/Y, vs. 63-65% expected ($22.2-$22.6B) - this is a very large beat and most material part so far.
Cloud Operating Income: ~$8.81B, implying 35.6% margin vs. 32.9% Q1.
Capex: $44.92B vs ~$44.15B (basically in line).
So initial read through is Google Cloud accelerating growth with expanding margins is genuinely bullish for AI demand.
Their former $180-$190B capex guidance is already extremely large, and as long as we get around these numbers in the earnings call + forward projections...
Should be good to go for $LITE and the other optics/networking trade. (eg. last earnings, they said DC and networking would be ~40% of capex spend).
Hyperscaler earnings transcripts are probably the most important thing to pay attention to with the AI capex trade.
And that should be in 3 minutes.
翻译：
$GOOGL 今日公布了财报：
每股收益：实际值为 $9.11，预期值为 $2.91 - 对于每股收益的反应基本上只是会计噪音，因为 $SPCX、Anthropic 等可能是主要贡献者。
收入：实际值为 $119.7B，预期值为 $116.98B
Google 云服务收入：$24.77B，同比增长 82%，预期值为 63-65%（$22.2-$22.6B）- 这是一个非常大的超预期，目前为止最重要的部分。
云服务营业收入：约 $8.81B，利润率为 35.6%，较第一季度的 32.9% 有所提高。
资本支出：$44.92B，预期值为约 $44.15B（基本持平）。
初步分析表明，Google 云服务加速增长，利润率扩大，对 AI 需求来说是真正的看涨信号。
他们之前的 $180-$190B 资本支出指导已经非常庞大，只要在财报电话会议和未来预测中保持这些数字...
对于 $LITE 和其他光学/网络交易来说应该是好消息（例如，上次财报，他们表示数据中心和网络将占资本支出的大约 40%）。
超大规模服务器厂商的财报记录可能是关注 AI 资本支出交易最重要的事情。
而这将在 3 分钟内发生。
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