Alphabet's Q2 results came in on the busiest days for tech companies, with Amazon and Apple announcing their financial results as well.
Google’s parent posted revenue of $38.297 billion, 2% lower than last year's $38.944 billion, exceeding the $37.33 consensus. However, this marked its first-ever revenue drop.
The company's net income came in at $6.959 billion, or $10.13/ share, lower than the same time last year of $9.947 billion, or $14.21 EPS. From the EPS perspective, it exceeded $7.94.
Revenue from Google ads slipped 8% to $29.867 billion from $32.494 same quarter last year. One of the biggest beneficiaries of this unprecedented situation was the cloud division, which gained 43% to $3 billion, from last year's $2.1 billion.
YouTube’s non-advertising revenue gained 26% to $5.124 billion, from a previous $4.08 billion.
In after-hours trading, the stock price went up 0.56%. Since the beginning of the year, the share added 15%.
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Sources: edition.cnn.com, thestreet.com