Google crushes second quarter earnings expectations
SAN FRANCISCO (AP) — Google parent Alphabet beat analyst expectations for its second quarter Thursday, pleasing investors and sending its shares up sharply.
The Mountain View, California-based company brought in revenue of $38.9 billion during the quarter, a 19% bump from the same period last year. The company reports it made $14.21 per share, or $9.9 billion during the quarter, nearly triple what it made last year when it paid a $5.1 billion European Commission fine.
Analysts polled by FactSet were expecting Alphabet to report earnings per share of $11.10 on revenue of $38.2 billion during the second quarter.
Google’s stock rose more than 7 percent in after-hours trading immediately after the earnings report was released.