Tuesday, 24 July 2018

Shares surge at Google's Alphabet as it crushes forecasts.

The results are likely to see Alphabet gain on
Amazon and Apple in the race to
become the first trillion dollar company - AFP
Google owner Alphabet batted off recent clashes with European regulators to post second quarter results which topped expectations, sending its shares surging in after-hours trade.

Excluding the €4.34bn (£3.9bn) fine handed down from the European Commission last week, Alphabet's earnings per share came in at $11.75 (9p), up from $8.90 a year earlier.

Revenue jumped 26pc to $32.7m, a substantial beat on the $25.6m analysts had been expecting, driven by a 24pc rise in advertising revenue and a 37pc increase in 'other revenue', which includes its cloud division.

By Hannah Boland.
Full story at Yahoo News.

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