Staff or Guest writer for The Dog of Wall Street.

2020-07-30 17:18

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.