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Google parent Alphabet's Q1 profits beat estimates: company

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Google's parent Alphabet on Thursday trounced revenue and profit expectations for the first quarter of this year, causing shares to leap more than 12 percent. Alphabet shares that ended the formal trading day down slightly leapt more than 12 percent to $177 in after-market trades that followed release of the earnings figures.

Google and Alphabet Inc. CEO Sundar Pichai says the company is well positioned for the artificial intelligence era with the technology woven into its platform and services. Photo: JUSTIN SULLIVAN / GETTY IMAGES NORTH AMERICA/Getty Images via AFPGoogle's parent Alphabet on Thursday trounced revenue and profit expectations for the first quarter of this year, causing shares to leap more than 12 percent.

"Our leadership in AI research and infrastructure, and our global product footprint, position us well for the next wave of AI innovation." Some $9.5 billion was brought in by Google's cloud computing unit, compared with $7.5 in the same quarter a year earlier.

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