Alphabet reports $112.11 billion Q2 profit; revenue tops forecasts

Revenue grows 24% to $119.8 billion, exceeding analyst expectations

Google parent company Alphabet Inc. reported a second-quarter profit of $112.11 billion, or $9.11 per share, on Wednesday, up from $28.2 billion, or $2.31 per share, in the same period a year earlier. Revenue climbed 24% to $119.8 billion from $96.43 billion, exceeding the $117.06 billion that analysts polled by FactSet had expected.

“Our AI investments are redefining what’s possible across every part of our business,” Chief Executive Sundar Pichai said in a statement. The company did not disclose an adjusted earnings figure that would be directly comparable to the $2.88 per share that analysts on average had projected for the metric.

Shares of Alphabet rose $2.71 to $344.62 in after-hours trading following the release.