Alphabet Inc. Q2 Income Drops, misses estimates

(RTTNews) - Alphabet Inc. (GOOGL) released a profit for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $16.00 billion, or $1.21 per share. This compares with $18.52 billion, or $1.36 per share, in last year's second quarter.

Analysts on average had expected the company to earn $1.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.6% to $69.69 billion from $61.88 billion last year.

Alphabet Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $16.00 Bln. vs. $18.52 Bln. last year. -EPS (Q2): $1.21 vs. $1.36 last year. -Analyst Estimates: $1.31 -Revenue (Q2): $69.69 Bln vs. $61.88 Bln last year.