Google’s back with blockbuster quarter

It’s good to be Google. A reorganization last year into a holding company called Alphabet, accompanied by some related high-level personnel moves, was unexpected but generally applauded. Investors and analysis see little in the short term to disrupt this happy state of affairs, which as pushed Alphabet’s value to more than $500 billion. Those sentiments were confirmed in its second-quarter earnings report, released Thursday after the market closed. It was even better than the rosy forecasts.

Revenue rose to $21.5 billion, about $750 million more than analysts were predicting and a 21% jump from a year earlier. Earnings per share after excluding the certain items was $8.42, or 39 cents more than forecasts. Last year, it was $6.99. Alphabet’s share, which drifted sideways during regular trading, immediately rose 4% after hours.

“The strength of the quarter is about mobile,” said Sundar Pichai, chief executive of the Google division where most of the company’s revenue and profits are made. “It transformed the way that people consume information, and Google’s products have become a central and much-loved part of their experience.”

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Hamilton edges out Nico for dramatic win

Lewis Hamilton survived a collision with his Mercedes teammate Nico Rosberg in a wild final lap on Sunday as he claimed a dramatic victory in a pulsating Austrian Grand Prix. The defending three-time world championship leader who defended hard at Turn Two and drove into him. Rosberg forced Hamilton off the track, but the Briton rejoined, the pair touching briefly again, and pulled clear to win. Behind him, Rosberg suffered a damaged front wing and dropped back to finish fourth.

The collison concluded a titanic contest between the two Mercedes men after an incident-packed race that lefy Mercedes team bosses describing their drivers as ‘brainless’. Dutch teenager Max Verstappen claimed his second career podium finishing second for Red Bull ahead of third placed Finn Kimi Raikkonen for Ferrari.

The stewards announced an inquiry into Rosberg’s final lap collision for continuing with a damaged car as Hamilton was jeered by the crowd as he stod on the podium. Hamilton’s win ended Rosberg’s hopes of a third consecutive win and cut the German’s lead from 24 points to 11 ahead of next weekend’s British Grand Prix at Silverstone.

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