Alphabet Shares Cross $800 After Big EPS And Sales Beats

Alphabet Inc GOOGL GOOG reported Q2 EPS of $8.42 and revenues of $17.52 billion. Analyst consensus had an EPS estimate of $8.07 and revenues of $16.883 billion.

Alphabet traded at $810.61 in Thursday's after-hours session, up 5.44 percent.

Experts such as Recode's Mark Bergen had their eyes peeled for signs that Alphabet's Google unit could be something more than an ad sales business.

Granted, investors will keep a close eye on Google's cost-per-click of each ad as a proxy for mobile ad health. However, Bergen suggested investors should keep an eye out on "other" revenue which included Fiber (broadband), Nest (home device automation) and Verily (medical products).

Alphabet reported $2,172 billion in other revenue, up 33 percent year-over-year and aggregate cost-per-click growth of -1 percnet year-over-year.

Alphabet had a 24 percent increase year-over-year in Q1 other revenue and a 9 percent loss year-over-yea in Q1 Aggregate cost-per-clicks.

"Our terrific second quarter results, with 21% revenue growth year on year, and 25% on a constant currency basis reflect the successful investments we've made over many years in rapidly expanding areas such as mobile and video. We continue to invest responsibly in support of our many compelling opportunities," said Ruth Porat, CFO of Alphabet.