Alphabet Shares Hit All-Time High After Earnings

Shares of Google parent Alphabet soared to all-time highs Monday evening, after the company posted a surge in ad revenue that partially made up for a record-breaking $5 billion fine from the EU. MarketWatch tech reporter Max Cherney said that even recent backlash over ad placement on the site won't ultimately deter customers. "Google has to make sure their advertising clients are happy with the placement of their ads," he told Cheddar after the results. "Even though Google has struggled with the issue, and YouTube specifically...at the end of the day Google offers very valuable advertising real estate and most, if not all, of their customers end up going back." Advertising revenue for the quarter rose nearly 25 percent to $28.1 billion in the second quarter. That increase came despite a [CNN report in April](https://money.cnn.com/2018/04/19/technology/youtube-ads-extreme-content-investigation/index.html) that found ads for 300 companies, from Adidas to Hershey to Netflix, appeared next to questionable YouTube content. The company had been plagued by similar scandals throughout last year. Still, research firm eMarketer estimates Google will control 31 percent of the digital ad market this year. On the company's conference call, CFO Ruth Porat said, "One of the biggest opportunities for investment continues to be our ads business, where we're continuing to invest meaningfully." While the EU fine, announced last week as a penalty for abusing the market dominance of its Android operating system, did eat into profit, on an adjusted basis the company posted earnings of $11.75 a share, ahead of analyst estimates for $9.59. Another good signーAlphabet also saw slowing growth in its so-called traffic acquisition costs, or how much the company pays to drive views to its sites. Overall revenue came in at $32.7 billion for the quarter. Sales from its "Other Bets", which include Google's cloud business and hardware division, rose nearly 50 percent to $145 million. For full interview, [click here](https://cheddar.com/videos/alphabet-hits-all-time-high-after-reporting-q2-earnings).

More In Business

A.I. Investments Carry Amazon Over $2 Trillion Valuation Threshold

Amazon.com Inc. surpassed $2 trillion in market value for the first time in afternoon trading on Wednesday. The push higher for Amazon’s stock market valuation comes a little more than a week after Nvidia hit $3 trillion and briefly became the most valuable company on Wall Street. Nvidia’s chips are used to power many AI application and its valuation has soared as a result. Amazon has also been making big investments in AI as global interest has grown in the technology. Most of the company’s focus has been on business-focused products.

The Costs of Extreme Heat Go Far Beyond Higher AC Bills

Climate change doesn’t just mean more extreme weather – it also leads to billions of dollars in lost productivity, tourism, and stresses infrastructure.

How Worried Should Nvidia Be About Their Stock?

Nvidia's shares are on a roller coaster, losing lost billions in market value last week. What's next for the ride?

The Federal Government Is Making Sure Banks Are Prepared for the Worst

It’s an annual tradition: the Fed’s banking ‘stress test.’ A year after the regional banking crisis, there are good reasons to make sure they’re prepped.

Budget-Friendly Tips for Your Swiftie Summer Adventures

Summer is upon us, which means weddings, trips overseas, and trips to see Taylor Swift. Avoid a “Cruel Summer” with these budget-friendly tips and tricks.

Nvidia Is the Star of the Market, But Don't Overlook These Other Names

While Nvidia's meteoric rise led it to briefly dethrone Microsoft as the world's biggest public company, there's a lot more going on in this market than A.I.

Housing Prices Soar to Historic Highs – And Don’t Forget Closing Costs

High rates and home prices have ground the housing market to a halt. And if you are in the market, make sure to save extra for those closing costs.

Big Business This Week: TikTok is ⬇️ as the National Debt Goes ⬆️⬆️⬆️

Plus, the Boeing blues continues, Golden Goose is getting scuffed up in the markets while TikTok is trying out AI girlfriends.

Democrats Put Spotlight on Millions of Pensions Saved Under 2021 Law

The Butch Lewis Act will ultimately stop cuts to the retirement benefits of 2 million workers and retirees across the country.

Cybersecurity Firm Denies It’s a Threat After US Bans Its Software

The Russian company said in a statement that the Commerce Department's decision would not affect its ability to sell its cybersecurity products in the U.S.

Load More