Alphabet posts 1Q profit

Alphabet Inc. (GOOG) on Thursday reported first-quarter net income of $5.43 billion.

The Mountain View, California-based company said it had profit of $7.73 per share.

The internet search leader posted revenue of $24.75 billion in the period. Its adjusted revenue was $20.12 billion.

Alphabet shares have increased 13 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 7 percent. In the final minutes of trading on Thursday, shares hit $874.25, an increase of 24 percent in the last 12 months.


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