Google’s parent company Alphabet beat earnings expectations on the top and bottom line for the first quarter. The stock was up more than 4% in after-hours trading.
Let’s go over the numbers, which Alphabet reported Thursday.
Here are the results versus Wall Street’s expectations (via Bloomberg):
-EPS, GAAP: $7.73 vs. $7.41 expected
-Revenue: $24.75 billion versus $24.17 billion expected, up 22% from the year-ago quarter.
The aggregate cost-per-click was down 19% year over year. That’s the biggest decline since at least 2014.
Another important number in the report: Other Bets. These are the other Alphabet companies outside of Google, like Waymo, Nest, X, and Verily. Alphabet lumps results for these companies together.
Other bets generated $244 million in revenue with an $855 million operating loss. Other Bets generated $165 million in revenue with a $774 million operating loss in the year-ago quarter.
Alphabet’s stock has been on a big run in recent weeks, reaching all-time highs. It closed at $874.25 Thursday.
Get the latest Google stock price here.