Alphabet, the holding company formed by Google last fall, handily beat analysts’ expectations in its quarterly earnings report Monday. The results sent the company’s stock soaring in after-hours trading, helping it topple Apple as the most valuable publicly traded company in the world.
The Mountain View, Calif. firm generated $21.3 billion in revenue, beating Wall Street estimates of $20.8 billion. Earnings were $8.67 per share, beating estimates of $8.09 per share. The company attributed its strong revenue growth to search ads, YouTube and programmatic advertising.
