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Alphabet stock adds 2% as Google Search and Cloud fuel earnings beat

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Alphabet stock adds 2% as Google Search and Cloud fuel earnings beat

The company's adjusted earnings per share came in at $1.89, slightly higher than the consensus estimate of $1.83. Revenue for the quarter was $84.74 billion, also above the average analyst projection of $84.16 billion.

"Q2 results were not as convincing as in Q1, when beat was broader," Jefferies analysts said in a note. Ruth Porat, President and CFO, highlighted the importance of investment in high-growth opportunities and the company's commitment to re-engineering its cost base.

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