Why Alphabet Stock Rose 12.5% in July
Shares of Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) increased more than 12% last month, according to data provided by S&P Global Market Intelligence, following the release of the online search giant's second-quarter results.
Alphabet's revenue jumped 19% year over year to $38.94 billion, besting Wall Street's expectations for revenue of $38.15 billion. The company's net income leapt 21% to $9.95 billion, or $14.21 per share. That, too, was above analysts' estimates for earnings per share of $11.30.
Google's core advertising business continues to enjoy robust growth, with revenue rising 16% to $32.6 billion. Yet Google's "other revenues" segment is expanding even more rapidly. Fueled by the strong growth of Google's cloud business, revenue in this segment surged 40% to $6.2 billion.
Source Fool.com
