Alphabet is a current holding in our US S&P100 model portfolio.
Shares of Alphabet rose after its second-quarter earnings announcement with earnings and revenue beating market expectations.
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The strong earnings came from higher ad sales and growth at its cloud unit. Google reported advertising revenue of $32.6 Bn for the second quarter, compared to $28.09 Bn during the second quarter last year.
Revenue came in at $38.94 Bn up 19% from last year and earnings per share were $14.21, up 21%.
Alphabet said its board of directors approved a re-purchase of up to an additional $25 Bn of its Class C capital stock.
Alphabet is on our high conviction buy list, underpinned by strong revenue growth and the large scale share buyback.
