Our interest in Google is as much the support GOOG (and AMZN on the 26th) give to the overall market as it is to the individual names and so far so good. GOOG*, not GOOGL up $20.59 (+1.74%) to $1205.50 during the regular session and another $44.50 (3.69%) to $1,250 after-hours.We'll see if it can hold through tomorrow's open.
AH top-tick $ 1,274.95
(16:08:23 PM EDT)
Alphabet Shares Surge After Google Sales Beat Analysts' Estimates
Google is still raking in marketing dollars from advertisers, propelling the online search giant to another strong quarter in the face of costly regulatory trouble in Europe.More tomorrow. For now, they got the beat.
Parent company Alphabet Inc. reported second-quarter sales, minus partner payouts, of $26.24 billion during the second quarter. Analysts were expecting revenue of $25.55 billion, according to data compiled by Bloomberg. Google’s advertising business grew 24 percent.
The company reported two different profit figures to account for a $5 billion fine the European Union imposed last week for violating competition law with Google’s Android mobile software. Excluding that, Alphabet said profit was $11.75 a share. Google plans to contest the ruling.
Alphabet shares jumped as much as 6.1 percent in after-hours trading.
Google has continued to give search ads more prominent space on mobile phones, fueling the strong sales growth. Spending on Google Shopping search ads, which let marketers promote consumer products, increased 31 percent in the second quarter from a year earlier, according to data from digital marketing firm Merkle. Those gains came even as Amazon.com Inc. revs up its own ads business....MORE
*The vote you get with the A shares (GOOGL) doesn't have much real world impact but costs an extra $10-12.