Google’s parent company Alphabet beat earnings expectations on the top and bottom line for the first quarter. The stock was up more than 4% 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: $US7.73 vs. $US7.41 expected
-Revenue: $US24.75 billion versus $US24.17 billion expected, up 22% from the year-ago quarter.
The aggregate cost-per-click was down 19% year over year. That’s the biggest decline since at least 2014.
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 $US244 million in revenue with an $US855 million operating loss. Other Bets generated $US165 million in revenue with a $US774 million operating loss in the year-ago quarter.
Alphabet’s stock has been on a big run in recent weeks, reaching all-time highs. It closed at $US874.25 Thursday.
Get the latest Google stock price here.
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