Alphabet revenue rise 24 percent on mobile ad growth; shares jump

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The company reported roughly $27.8 billion in total revenues (up 24 percent), with Google contributing all but $302 million of that amount.

ILLEGAL ACTIVITY WARNING: "Alphabet Inc". One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock.

Earnings of $9.57 per share beat the Street's consensus by $1.24, while revenue of $27.8 billion, up 23.8 percent year-over-year, was $600 larger than anticipated. Alphabet accounts for approximately 3.9% of Seatown Holdings Pte.

Shares of Google traded up more than 4.5 percent in after-hours.

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Google's parent company, Alphabet, had yet another highly successful financial report.

Headcount was up to 78,101, versus 69,953 for the same quarter previous year. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. Courier Capital LLC raised its holdings in shares of Alphabet by 7.9% during the first quarter. Boston Partners raised its stake in shares of Alphabet by 150.0% in the second quarter. Westwood Management Corp IL now owns 24,126 shares of the information services provider's stock valued at $20,454,000 after acquiring an additional 91 shares in the last quarter.

COPYRIGHT VIOLATION WARNING: This story was originally posted by TrueBlueTribune and is owned by of TrueBlueTribune. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $8.43 per share. If you are accessing this story on another site, it was illegally copied and republished in violation of worldwide copyright law. Aggregate cost per click declined 18% year over year but grew 1% sequentially. All of Alphabet's other businesses, which include Google Fiber, its Waymo self-driving auto team, Nest and others, brought in just $307 million in revenue during the quarter. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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