Advertisement
U.S. markets open in 2 hours 47 minutes
  • S&P Futures

    5,205.75
    -9.00 (-0.17%)
     
  • Dow Futures

    39,192.00
    -31.00 (-0.08%)
     
  • Nasdaq Futures

    18,186.50
    -45.00 (-0.25%)
     
  • Russell 2000 Futures

    2,046.60
    -3.20 (-0.16%)
     
  • Crude Oil

    82.46
    -0.26 (-0.31%)
     
  • Gold

    2,157.20
    -7.10 (-0.33%)
     
  • Silver

    25.10
    -0.16 (-0.65%)
     
  • EUR/USD

    1.0846
    -0.0031 (-0.28%)
     
  • 10-Yr Bond

    4.3400
    0.0000 (0.00%)
     
  • Vix

    14.60
    +0.27 (+1.88%)
     
  • GBP/USD

    1.2683
    -0.0046 (-0.36%)
     
  • USD/JPY

    150.5330
    +1.4350 (+0.96%)
     
  • Bitcoin USD

    63,113.85
    -4,862.21 (-7.15%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,717.34
    -5.21 (-0.07%)
     
  • Nikkei 225

    40,003.60
    +263.20 (+0.66%)
     

Google beats expectations, shares jump

Alphabet (GOOG), the parent of search giant Google reported numbers that were stronger than expected, and shares are rallying.

Revenue excluding traffic acquisition costs increased to $17.52 billion, beating expectations for $16.88 billion. Earnings jumped to $8.42, which was better than the $8.03 expected.

Advertising revenues jumped 19% to $19.14 billion.

“Our terrific second quarter results, with 21% revenue growth year on year, and 25% on a constant currency basis reflect the successful investments we’ve made over many years in rapidly expanding areas such as mobile and video,” Alphabet CFO Ruth Porat said. “We continue to invest responsibly in support of our many compelling opportunities.”

Paid clicks on Google websites increased 37% year-over-year, while cost-per-click fell 9%.

Alphabet’s Google is the world leader in search technology. Other brands owned include Android and YouTube. The companies’ most exciting sources of incremental growth are expected to come from mobile usage, video, and Google Play.

Revenue for Alphabet’s “other bets” — including Google Fiber, Nest, Verily and Google X — climbed to $185 million from $74 million a year ago.

The stock is up around 2% in after-hours trading.

Sam Ro is managing editor at Yahoo Finance.
Read more:

The gloomy profits narrative underlying the stock market just got worse

A popular way of measuring stock market value is being misused

The most important question in the stock market right now

The dumbest math mistake investors make in the stock market

Here’s the depressing truth about the bull market

Advertisement