Alphabet Inc. on Wednesday reported investment gains of $98 billion as part of its second-quarter earnings results.
The company, parent of Google, didn't specify the source of the windfall, which it described in a statement as "primarily the result of net unrealized gains on our equity securities." The increase pushed net income to $9.11 a share for the period, compared with analysts' average estimate of $2.90.
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Alphabet holds a valuable stake in Elon Musk's rocket company SpaceX, whose initial public offering last month was the largest stock-market debut in history. Alphabet is also a major investor in artificial intelligence startup Anthropic PBC, which could go public as soon as October.
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(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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