Nine people on board a Learjet flying from Austin bound for the Bahamas were killed when it crashed in Palm Beach County, Florida, on Sunday. The video shows verified footage of the aftermath of the incident.
All right, let's take a look at some after hours movers. We want to start with Alphabet, Google's parent company. Shares moving to the upside here after its results, Jared Blikre has a closer look at the numbers for us. And Jared, what's standing out to you?
Well, we've got the stock up just about 6%. And let's take a look at the numbers here, a beat on the top and bottom line. Revenue coming in at 56.9 billion, estimate was for 54. We got an EPS beat as well, $16.40, estimate was for $15.82. But I think what's most interesting here is digging into these segments, and here we have a year-over-year look. We see that cloud number up 45%. And then their other bets, that is up 1.35%. So really a strong quarter.
Yeah, Jared, let's talk about the other bets for a second, because we talk a lot about its cloud business. When we talk about other bets, how much does that really matter for investors at this point?
Well, I think it's part of the longer-term story here. And these other bets are kind of like moonshots, things like Waymo, which is their self-driving car unit, also Verily, which is their life sciences unit. These are losing a lot of money, so they're not a profit driver at all. In fact, they detract from the bottom line, but it's that long-term vision that Google has that keeps people invested in this name.
And Jared, let's talk about the cloud business, because that is so critical when we're comparing it, of course, to what we're seeing from some of its competitors, mainly Amazon and also Microsoft. It looks like Google is gaining ground. What can you tell us just in terms of the progress that they've made over the last couple of quarters?
You know, it's just a torrid pace of growth here. And we can get a year-over-year look again, up 53%-- excuse me, 45% in that cloud number. And what we have to remember is that this is something that has been the focus of Sundar Pichai. This is a huge area for them. And the fact that they're investing so much money here, you got to see the growth, and we are seeing it.
And Jared, what about what this tells us just about the advertising business? Because obviously, that's their bread and butter. We're also talking about the regulatory overhang that we've seen on the name for quite some time.
Yes, and the advertising revenue, very strong here. And let me see if I can pull up some numbers. Search advertising 31.9 billion, YouTube ads 5 billion. Both very strong numbers. Now, you mentioned the regulatory overhang. We got that DOJ lawsuit. So this is going to be a multi-year process that plays out in the courts. That is probably the biggest risk to the stock longer term, but for right now, the numbers are just too powerful to ignore.
All right, Jared Blikre, thanks so much for breaking that down for us.
