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Alphabet Q2 results top estimates; Shares jump

Published 07/26/2023, 04:22 AM
© Reuters
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Investing.com - Alphabet reported on Tuesday second-quarter results that beat Wall Street estimates, driven by performance in its Google search and YouTube business as well as momentum in cloud.

Alphabet (NASDAQ:GOOGL) was up more than 5% following the report.

The Google parent announced earnings per share of $1.44 on revenue of $74.6 billion. Analysts polled by Investing.com anticipated EPS of $1.34 on revenue of $72.82B.

The company also announced that chief financial officer Ruth Porat will assume the newly created role of President and Chief Investment Officer of Alphabet and Google from Sept. 1.

Ruth will be responsible for Alphabet’s investments in its other bets portfolio, the company added.

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