Alphabet, Inc. Delivers a "Terrific" Beat

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Google parentAlphabet(NASDAQ: GOOG)(NASDAQ: GOOGL) just released segment-based results for the third time Thursday after the market close.With shares of the Internet juggernaut up more than 4% in after-hours trading, and flirting with a fresh 52-week-high as of this writing, investors are rightly happy with what it had to say.

The headline numbers

Consolidated revenue grew 21.3% year over year, to $21.5 billion, and would have increased 25% if it weren't for the negative effects of foreign-currency exchange. Based on generally accepted accounting principles (GAAP), that translated to 23.7% growth in operating income, to $5.97 billion, and 24.1% growth in GAAP net income, to $4.88 billion. GAAP net income per share climbed 42% year over year for class A and B common shares, and rose 8.9% for class C capital stock, both to $7.00.

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