Jul 23, 2018 - Technology

Alphabet stock soars after stellar Q2 earnings

Photo: Michele Tantussi/Getty Images

Alphabet's stock was up over 5% Monday following the company's successful earnings reports.

Why it matters: The figures were reported just days after the EU announced that it would be slapping Google with one of it's biggest antitrust penalties ever.

By the numbers:

  • Total revenue was $32.7 billion, beating Wall Street analysts' expectations of $32.17 billion.
  • Earnings before Facebook's EU fine were $11.75 per share, which also beat projections of $9.66 per share. But its earnings after the fine are $4.54. (Google said it's hoping to appeal the ruling.)
  • Revenue for "Other bets" (Google-owned side projects like Nest and Verily) increased 50% year-over-year to $145 million for Q2.

What's next? Google will elaborate on its earnings in a call to investors at 4:30 p.m. ET. Axios will update this post accordingly.

Correction: This article has been updated to clarify Alphabet's total revenue.

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