Alphabet jumps 3% as search, advertising units show resilient growth

Adjusted earnings, excluding that gain, were $2.27 per share, according to LSEG, and topped analyst expectations. Net income rose 46% to $34.54 billion, or $2.81 per share. That's up from $23.66 billion, or $1.89 per share, in the year-ago period. Alphabet said the figure included $8 billion in unrealized gains on its nonmarketable equity securities connected to its investment in a private company. The search giant posted earnings of $2.81 per share on $90.23 billion in revenues. That topped the $89.12 billion in sales and $2.01 in EPS expected by LSEG analysts. Revenues grew 12% year-over-year and ahead of the 10% anticipated by Wall Street. " GOOGL 's pace of GenAI product roll-out is accelerating with multiple encouraging signals," wrote Morgan Stanley 's Brian Nowak. "Macro uncertainty still exists but we remain [overweight] given GOOGL's still strong relative position and improving pace of GenAI enabled product roll-out." Alphabet shares have pulled back about 16% this year as ... Read full article.