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Google HQ: The tech firm beats revenue, profit expectations in Q2

Google shares rose about 8 percent in post-market trading after blowing past analyst expectations in Q2 and announcing a $25 billion share buyback.

The company reported revenue of $31.7 billion, nearly $1 billion above Wall Street’s consensus expectation.

Analysts were also worried the company’s advertising business would continue to slow, but revenue growth of 19% surpassed the 15% consensus estimate.

The key numbers:

Net Revenue (excluding traffic acquisition costs): $31.7 billion, up 20.8% year over year, and higher than the $30.84 billion that analysts expected.

Earnings per share: $14.21, compared with $11.19 expected by analysts.

Total advertising revenue: $32.6 billion, compared with $28.1 billion last year.

Capital expenditure: $6.1 billion, compared with $5.4 billion during the same period last year.

The earnings results come days after the US Justice Department announced an anti-trust investigation into “online platforms.”

The Tuesday announcement wiped out $33 billion worth of market cap from Facebook, Amazon, Apple, and Google.

Reported by BusinessInsider.com