Alphabet: 2Q Earnings Snapshot
MOUNTAIN VIEW, Calif. (AP) _ Alphabet Inc. (GOOGL) on Thursday reported second-quarter earnings of $9.95 billion.
On a per-share basis, the Mountain View, California-based company said it had profit of $14.21.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $11.49 per share.
The internet search leader posted revenue of $38.94 billion in the period. After subtracting Alphabet’s advertising commissions, revenue was $31.71 billion, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $30.9 billion.
Alphabet shares have climbed almost 9% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. In the final minutes of trading on Thursday, shares hit $1,135.96, a fall of 11% in the last 12 months.