Reuters/Beck Diefenbach
Google's parent company Alphabet beat earnings expectations on the top and bottom line for the first quarter. The stock was up more than 3% in after-hours trading.
Let's go over the numbers, which Alphabet reported Thursday.
Here are the results versus Wall Street's expectations (via Bloomberg):
-EPS, GAAP: $7.73 vs. $7.41 expected
-Revenue: $24.75 billion versus $24.17 billion expected, up 22% from the year-ago quarter.
-Aggregate cost-per-click: down 19% year over year
Another important number in the report: Other Bets. These are the other Alphabet companies outside of Google, like Waymo, Nest, X, and Verily. Alphabet lumps results for these companies together.
Other bets generated $244 million in revenue with an $855 million operating loss. Other Bets generated $165 million in revenue with a $774 million operating loss in the year-ago quarter.
Alphabet's stock has been on a big run in recent weeks, reaching all-time highs.
This story is developing...
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See Also:
- Waymo is now letting ordinary people sign up to test its self-driving cars in Phoenix
- Here's what to pay attention to when Google reports Q1 results
- Sergey Brin is secretly building a massive zeppelin in a NASA hangar, report says
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