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Alphabet crushes analysts' expectations in Q2 earnings

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Keith Brewton
Jul 25, 2019 19:56
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The company's net revenue came in at $31.7, beating analysts' expectations by almost $1 billion.

Google blew past Wall Street's revenue and profit targets in the second quarter, sending its stock up more than 9% in extended trading on Thursday.

A resurgence in the Google's core advertising business, after a weak performance in the first quarter of the year, along with strong results in the cloud business pushed Google's net revenue up about 21% to $31.7 billion.

Google's parent company Alphabet also said that its board authorized the company to repurchase $25 billion of its stock, providing an additional piece of good news to investors.

While Google, along with Facebook, Amazon and Apple, are facing an intense escalation in government scrutiny and enforcement of the tech market, there were few signs of worries during Alphabet's earnings conference call on Thursday.

"For me, it's important that we stay focused on building helpful products for users."

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Keith Brewton
Jul 25, 2019 19:56
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