Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended June 30, 2020.
Here the highlights:
- EPS: $10.13 (non-GAAP),vs. $8.21 estimated.
- Revenue: $38.30 billion vs. $37.37 billion estimated.
- YouTube advertising revenue: $3.81 billion vs. $3.78 billion.
- Google Cloud revenue: $3.01 billion vs. $3.06 billion.
- Traffic acquisition costs (TAC): $6.69 billion vs. $6.67 billion.
Ruth Porat, Chief Financial Officer of Alphabet and Google, said the following:
"In the second quarter our total revenues were $38.3B, driven by gradual improvement in our ads business and strong growth in Google Cloud and Other Revenues. We continue to navigate through a difficult global economic environment.”
Google's stock is up in after-market hours trading.
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