Alphabet Surges After Q2 Earnings, Revenue Beats

Shares of Google parent company Alphabet Inc. GOOG GOOGL surged after it reported earnings and revenue ahead of expectations.

The company reported second-quarter earnings of $14.21 per share, topping the Wall Street consensus estimate of $11.30 by 25.75% , and up more than 20% over the same period last year.

Revenue came in at $38.94 billion, beating the Street estimate of $38.17 billion by just over 2%. The sales figure was 19.25% above the same period last year.

“Our effort to build a more helpful Google for everyone brings countless opportunities to help users, partners, and enterprise customers every day,” said CEO Sundar Pichai. “From improvements in core information products such as Search, Maps, and the Google Assistant, to new breakthroughs in AI and our growing Cloud and Hardware offerings, I’m incredibly excited by the momentum across Google’s businesses and the innovation that is fueling our growth.”