This has been a busy year for Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). The company has acquired two companies in the cybersecurity space and most recently completed a stock split. Alphabet recently reported second-quarter 2022 earnings and the results were mixed. Though the search and cloud segments were big winners, some investors may be worrying about how the internet giant can sidestep its competition as well as combat macroeconomic factors such as lingering inflation. Let's dig into the Q2 earnings and analyze if Alphabet appears to be a good buy, or if investors should look elsewhere.

For the second quarter, which ended on June 30, Alphabet generated $69.7 billion in total revenue. This was an increase of 13% year over year. By comparison, Alphabet grew revenue by a staggering 62% year over year during the same period in 2021. Given the slowdown in top-line growth, investors may be quick to sell and search for new investment opportunities. However, the most prudent thing investors can do is look at where Alphabet may be experiencing levels of stagnation or even declining growth, and which areas are performing well. The table below illustrates Alphabet's revenue streams during Q2 2022, and percentage changes year over year.

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Source Fool.com