Alphabet (GOOGL) 2Q16 Results: Alphabet Has a “Terrific” Quarter, Beats on Top and Bottom Lines

Executive Summary

• Alphabet (the parent company of Google) reported 2Q16 revenues of $21.5 billion, up 21.3% year over year and ahead of the $20.7 billion consensus estimate. Non-GAAP EPS was $8.42, up 20.4% year over year and beating the $8.04 consensus estimate.
• Mobile and video were the key growth drivers in the quarter.
• The company did not offer guidance, but commented that it will continue to invest responsibly in many compelling opportunities.