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googlelogoGoogle parent company Alphabet saw its shares spike after beating analyst expectations for its second quarter earnings report.

Alphabet, announced a year ago as a new holding company that includes Google, posted $21.5 billion in revenue, beating the $20.7 billion Wall Street expected, and up 21 percent year-over-year. The company also posted profit of $8.42 per share; analysts expected $8.04.

“Our terrific second quarter results, with 21% revenue growth year on year, and 25% on a constant currency basis reflect the successful investments we’ve made over many years in rapidly expanding areas such as mobile and video,” Alphabet CFO Ruth Porat said in a statement. “We continue to invest responsibly in support of our many compelling opportunities.”

The Google business (search, ads, maps, apps, cloud, Play, YouTube, Android, virtual reality, etc.) was responsible for $21.3 billion in operating income this past quarter and $6.9 billion in profits.

Alphabet’s category called “Other Bets” — which includes more risky projects like Google X, Calico, Life Sciences, and self-driving car development — posted revenue of $185 million on an operating loss of $859 million. That’s up from revenue of $74 million on an operating loss of $660 million a year ago.

Alphabet added 2,460 employees during Q2 and now employs 66,575 people, up from 57,148 one year ago.

Alphabet was not the only tech giant to beat earnings expectations this week — Facebook, Apple, and Amazon did the same.

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