Why Alphabet Stock Popped on Earnings

Shares of Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) are rising today, up by 3.1% as of 1:30 p.m. EDT, after the internet search giant reported Q2 2021 results last night. Instead of the $19.21 per share in profit on $56 billion in revenue that Wall Street had forecast, Alphabet earned $27.26 per share on sales of $61.9 billion. "In Q2, there was a rising tide of online activity in many parts of the world," commented CEO Sundar Pichai, allowing Alphabet to cash in on "elevated consumer online activity and broad-based strength in advertiser spend."