Why Alphabet Stock Has Surged This Week
Shares of Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) have surged sharply higher so far this week, jumping as much as 12.2%. As of the market close Thursday, the stock was still up 7.3%.
The catalyst that sent the tech giant higher was its fourth-quarter earnings report, which held a few surprises for investors.
Alphabet generated revenue of $75.3 billion, up 32% year over year. Its operating margin edged higher, climbing to 29% from 28% in the prior-year quarter, which fueled its growing bottom line. The search leader delivered net income of $20.6 billion, which resulted in earnings per share (EPS) of $30.69, which jumped 38%.
Source Fool.com
