Google Beats Q2 Earnings Expectations... Slight Gains in After-Hours Trading
Q2 Revenue $84.7 Billion... EPS $1.89
YouTube Ad Revenue Falls Short of Expectations
Google Cloud Revenue Exceeds Forecast
Alphabet, Google's parent company, reported better-than-expected results for the second quarter of this year.
On the 23rd (local time), Alphabet announced its Q2 earnings after the market closed, reporting revenue of $84.74 billion and earnings per share (EPS) of $1.89.
This performance exceeded analysts' expectations. Previously, Wall Street had forecasted Alphabet to record revenue of $84.19 billion and an EPS of $1.84.
By business segment, YouTube ad revenue was $8.66 billion, falling short of the expected $8.93 billion. Google Cloud posted revenue of $10.35 billion, surpassing the forecast of $10.2 billion.
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Following the earnings announcement, Google's shares were up 0.15% in after-hours trading as of 4:19 PM Eastern Time.
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