Alphabet Inc, the parent company of Google, released an analyst report showcasing strong financial performance for the past quarter. Revenue increased by 34% to $61.88 billion, beating expectations. Net income also rose to $18.5 billion, up from $6.8 billion last year. The impressive results were driven by a surge in online advertising revenue, particularly from YouTube and search ads. Additionally, Alphabet’s cloud computing segment showed significant growth, with revenue jumping to $4.05 billion. Investors are optimistic about the company’s future prospects, with share prices rising by 5% following the report.

Read more at Yahoo Finance: Analyst Report: Alphabet Inc