Alphabet second-quarter revenue beats estimates

July 25 (Reuters) – Google-parent Alphabet Inc beat Wall Street estimates for quarterly revenue on Thursday, benefiting from advertisers spending more on its search and YouTube services.

The company’s net income rose to $9.95 billion, or $14.21 per Class A and B common share and Class C capital share, from $3.2 billion, or $4.54 per share, a year earlier, when it recorded a $5 billion charge related to a fine by European antitrust regulators for abusing its dominance in mobile software.

Revenue jumped 19.3% to $38.94 billion.

Analysts on average had expected revenue of $38.15 billion, according to IBES data from Refinitiv.

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