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Google Parent Alphabet Crushes Second Quarter Earnings Expectations

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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.

Google’s stock rose more than 7 percent in after-hours trading immediately after the earnings report was released. Google is facing mounting pressure from federal elected officials and regulators over a variety of issues such as its market power, misinformation and claims -- usually offered without evidence -- that its popular search engine and other services are biased against conservative politicians and viewpoints.On Thursday, the campaign for Democratic presidential candidatesued Google, alleging the company improperly suspended her advertising account after the first presidential debate.

 

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