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Alphabet Beats Analysts' Estimates on Surge of Retail...


Second-quarter sales for Alphabet Inc., Google’s parent, surged past Wall Street estimates, due to a swell of ads from retail marketers eager to encourage consumer spending through e-commerce on YouTube and by physically returning to stores.
Revenue, excluding payments to distribution partners, was about $51 billion in the period ended June 30, the Mountain View, California-based company said Tuesday in a statement. Analysts projected $46.1 billion, according to data compiled by Bloomberg. Profit was $27.26 a share, topping the average estimate of $19.35.
After a digital-ads slowdown a year ago during the Covid-19 pandemic, Google’s advertising business has rebounded. The increase in digital advertising sales in the quarter echoed similar results reported last week by social media companies Twitter Inc. and Snap Inc., with all shrugging off any concerns about how the highly contagious Covid-19 delta variant could affect marketing budgets on their platforms. Google, t ....

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