Shares of Google parent Alphabet jump as advertising growth lifts revenue to over $90B

Source: New York Post

Google parent Alphabet said it would buy back $70 billion worth of shares as it reported first-quarter profit above Wall Street expectations on Thursday. Shares jumped 4% in extended trading, adding about $75 billion to the company’s market value. Alphabet beat quarterly revenue estimates, benefiting from steady growth in its digital advertising business, which helped offset muted growth at its cloud computing unit.