Google crushes earnings expectations for second quarter

Google’s stock rose more than 7 percent in after-hours trading

Google parent Alphabet beat analyst expectations for the 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 reported profit of $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.

Source: https://www.usatoday.com

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