Alphabet Stock Rises as Company Reports Surprising Q2 2019 Earnings
Google's parent company, Alphabet, surpassed the expert's predictions as its revenue in Q2 2019 almost $1 billion more than expected, according to a report published Thursday, July 25.
Alphabet's revenue excluding traffic-acquisition costs amounted to $31.7 billion against $30.84 billion expected, which represents a 20.8% growth year over year.
Google advertising revenue ($32.6 billion) is also on the rise in comparison to the same period last year ($28.1), although analysts expected it to slow down.
Alphabet's stock rose 8% Friday, June 26, following the announcement. As of press time, the shares were traded around $1,250.
Earlier this week, the U.S. Justice Department launched an antitrust probe targeting Google, Facebook and Amazon. The review's goal is to reveal whether the corporations have violated competition rules.
Facebook’s Q2 2019 earnings are also far beyond expected, despite the $2 billion settlement. Its revenue was $16.9 billion versus $16.5 billion forecast by Refinitiv. Moreover, the number of active monthly users grew to 2.41 billion.