Alphabet at new all-time high

On Tuesday night, Google parent Alphabet announced its quarterly results. A strong increase in sales and profits was recorded. Accordingly, the share price is rising strongly today.

The tech giant posted significant gains in revenue and earnings in its second fiscal quarter. Earnings per share rose sharply to $27.26 from $10.13, after experts had previously expected the company to post EPS of $19.33.

Retail ad spending was the biggest contributor to the increase, top executive Philipp Schindler said in a conference call with analysts. In addition, the travel industry and financial service providers, among others, would have spent more money on advertisements.

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Alphabet at new all-time high

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