Alphabet’s SpaceX stake fuels a $98 billion gain, beating estimates

Google parent company Alphabet Inc. posted stronger-than-expected results for its second quarter, a sign that it’s massive artificial intelligence spending spree is paying off so far and advertising revenue is coming in strong.

The Mountain View, California-based company said Wednesday it earned $112.11 billion, or $9.11 per share, in the April-June period. That’s up from $28.2 billion, or $2.31 per share, in the same period a year earlier.

Revenue grew 24% to $119.8 billion from $96.43 billion.

Analysts, on average, were expecting revenue of........

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