Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) reported a top and bottom line earnings beat.
Alphabet revenues swelled to $21.5 billion, up 21% year-over-year and severely trumping the 11% YOY growth the company posted in the same quarter last year. Non-GAAP earnings per share came in at $8.42, up about 20% from the year prior. Operating margins also improved from the prior year.
Operating income from Google climbed to $6.994 billion, which was nearly a 25% increase from the prior year. That’s good, as it’s evident the core business continues to operate at a very high level.
The company’s “other bets” – which includes businesses like Dropcam and Nest – saw revenue soar 150% to $185 million, although operating losses climbed to $859 million. As it stands, shares are up almost 5% in after-hours trading.
For a long time, investors have been championing Google, even though at times its share price could be rather stagnant. Still, the valuation compelled many investors and the company’s reacceleration of growth has vindicated many long-standing bulls.
As of this writing, shares are trading higher by almost 6% and are hitting what would be new all-time highs.
