Google’s parent company, Alphabet shares soars as Q2 revenue beats estimates

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Google’s parent company, Alphabet Inc. said its second-quarter result outperformed its forecast.

Alphabet said its revenue for the period rose to $38.9 billion, up 19% versus the second quarter of 2018.

“Our effort to build a more helpful Google for everyone brings countless opportunities to help users, partners, and enterprise customers every day,” said Sundar Pichai, Chief Executive Officer of Google. “From improvements in core information products such as Search, Maps, and the Google Assistant, to new breakthroughs in AI and our growing Cloud and Hardware offerings, I’m incredibly excited by the momentum across Google’s businesses and the innovation that is fueling our growth.”

“With revenues of $38.9 billion, up 19% versus the second quarter of 2018 and up 22% on a constant currency basis, we’re delivering strong growth,” said Ruth Porat, Chief Financial Officer of Alphabet and Google. “Our ongoing investments in compute capabilities and engineering talent reflect the compelling opportunities we see across the company,” he said.