Google's parent company has seen its stock surge following the publication of results ahead of analyst expectations

 
Mark Sands
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Google boss Sundar Pichai may have fresh backing from investors after the search giant's latest figures (Source: Getty)

GOOGLE parent Alphabet saw it stock surge in late trading yesterday after it reporting second quarter figures ahead of expectations.

While analysts had predicted revenues of $20.7bn, the US giant last night published takings of $21.5bn for the three months to 30 June.

It marked a 21 per cent increase on last year's figure of $17.7bn.

The US firm's share price leapt in response, immediately moving from $765.84 to $810.89 as Alphabet published its results.

The figures also included a 19 per cent leap in advertising revenues, which reached $19.1bn and helped mitigate a loss of $859m from its "other bets" category, which includes projects like Google Fiber, Nest thermostats, science initiatives Calico and Verily and the investment arm Google Ventures.

Alphabet chief financial officer Ruth Porat said: "Our terrific second quarter results, with 21% revenue growth year on year, and 25% on a constant currency basis reflect the successful investments we've made over many years in rapidly expanding areas such as mobile and video.

“We continue to invest responsibly in support of our many compelling opportunities.”

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