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Google-owner Alphabet sees second quarter revenue and earnings beat market expectations, easing concerns about short-term growth

The company’s net income for the second quarter rose to $9.95 billion, or $14.21 per share, from $3.2 billion, or $4.54 per share a year earlier

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Alphabet’s revenue increased by 19% to $38.94 billion, compared to the consensus estimate for $38.15 billion

Google-owner Alphabet Inc (NASDAQ:GOOGL) saw its second quarter revenue and earnings both beat market expectations, easing concerns about the short-term growth challenges in the face of antitrust investigations.

Alphabet’s revenue increased by 19% to $38.94 billion, compared to the consensus estimate for $38.15 billion.

The company’s net income for the second quarter rose to $9.95 billion, or $14.21 per share, from $3.2 billion, or $4.54 per share a year earlier, when it recorded a $5 billion charge related to a fine by European antitrust regulators. The consensus estimate was for quarterly net income of $8.024 billion, or $11.32 per share.

During the second quarter, Google announced several new advertising tools, including ads on the home page of its mobile app as well as new types of ad campaigns spanning YouTube and Gmail.

Ad clicks on Google’s properties rose by 6% in the second quarter compared to the first quarter, when they had fallen by 9%.

In after-hours trading, Alphabet shares were 8.3% higher at $1,230.

Quick facts: Alphabet

Price: $1.15 k

Market: NASDAQ
Market Cap: $798.3 billion
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