Alphabet Q1 Profit Nearly Doubles

(RTTNews) - Alphabet Inc. (GOOG) on Wednesday reported first-quarter results with profit surging from last year, driven by double-digit revenue growth.

The tech and digital services company reported a jump in net income to $62.58 billion, up from $34.54 billion, nearly double, during the same period last year. Earnings per share also saw an increase, rising to $5.11 from $2.81 the year before.

Revenues rose to $109.90 billion, up 22% from $90.23 million a year ago, highlighting strong performance across primary business areas. This growth was fueled by higher operating income and ongoing expansion in crucial segments.

GOOG is currently trading after hours at $369.79, up $22.48 or 6.47 percent on the Nasdaq.