Alphabet shares jump on beat and strong cloud growth

MARKETS

Shares of GOOG rose 6% in pre-market trading Wednesday, driven by stronger-than-expected second-quarter earnings and marked year-over-year growth in cloud computing revenue.

The company on Tuesday reported adjusted earnings per share of $1.44, more than the $1.34 expected by a Refinitiv survey of analysts. Revenue for the second quarter came in at $74.6 billion, beating a consensus estimate of $72.82 billion.

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