Google parent Alphabet beats quarterly revenue estimates

FILE PHOTO: The logo of Google is seen at the high profile startups and high tech leaders gathering, Viva Tech,in Paris, France May 16, 2019. REUTERS/Charles Platiau/File Photo

(Reuters) – Google parent Alphabet Inc beat analysts’ estimates for quarterly revenue on Tuesday, powered by a surge in advertising spending amid more consumers shopping online.

Revenue of the internet’s biggest supplier of search and video ads rose to $61.88 billion in the second quarter from $38.30 billion a year earlier, well above Wall Street estimates of $56.16 billion, according to IBES data from Refinitiv.

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