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Alphabet Inc. (GOOGL) Beats Q2 Earnings, Up 3.1% on Revenue Surge
Alphabet Inc. (GOOGL - Free Report) just released its Q2 2016 earnings results, posting earnings of $6.47 per share and revenue of $21.5 billion.
Currently, GOOGL has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Alphabet Inc.:
1. Beat earnings estimates. The company posted earnings of $7.00 per share, beating our Zacks Consensus Estimate of $6.47.
2. Beat revenue estimates. The company saw revenue figures of $21.5 billion, crushing our estimate of $16.88 billion.
3. "Our terrific second quarter results, with 21% revenue growth year on year, and 25% on a constant currency basis reflect the successful investments we've made over many years in rapidly expanding areas such as mobile and video. We continue to invest responsibly in support of our many compelling opportunities,” said Ruth Porat, CFO of Alphabet.
4. GOOGL saw a 29% year-over-year increase in aggregate paid clicks and a 7% increase from last quarter. It also saw a 37% year-over-year increase in paid clicks on Google websites, representing a 9% increase over last quarter.
5. GOOGL was up $23.86, or 3.12%, to $789.70 as of 4:19 p.m. EDT in after-hours trading shortly after its earnings report was released.
Here’s a graph that looks at Alphabet Inc’s latest earnings performance:
ALPHABET INC-A Price and EPS Surprise
ALPHABET INC-A Price and EPS Surprise | ALPHABET INC-A Quote
Alphabet Inc. is engaged in technology business. The Company provides web-based search, advertisements, maps, software applications, mobile operating systems, consumer content, enterprise solutions, commerce, and hardware products through its subsidiaries. Alphabet Inc., formerly known as Google Inc., is headquartered in Mountain View, California.
Check back later for our full analysis on Alphabet Inc’s latest quarterly earnings report!
If you want information on how to trade during earnings season, check out the Zacks Market Edge Podcast below.
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