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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