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Google crushes second quarter earnings expectations

Posted at 1:22 PM, Jul 25, 2019
and last updated 2019-07-25 16:22:52-04

SAN FRANCISCO (AP) — Google parent Alphabet beat analyst expectations for its 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 reports it made $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.