Google owner Alphabet batted off recent clashes with European regulators to post second quarter results which topped expectations, sending its shares surging in after-hours trade.
Excluding the €4.34bn (£3.9bn) fine handed down from the European Commission last week, Alphabet’s earnings per share came in at $11.75 (9p), up from $8.90 a year earlier.
Revenue jumped 26pc to $32.7m, a substantial beat on the $32.17m analysts had been expecting, driven by a 24pc rise in advertising revenue and a 37pc increase in ‘other revenue’, which includes its cloud division.
It’s difficult to know what they got wrong there. Well, obviously, m should be b. But how does $11.75 become 9p? £9.00? There’s some special class of shares worth 100th of a normal one, sorta a reverse ADR?
Or do they just not have subs these days?