Alphabet said on July 22 that it booked US$98 billion in second-quarter investment gains, lifting net income per share to US$9.11, above analysts’ average estimate of US$2.90.

The company said the boost came mainly from net unrealized gains on equity securities, but it did not identify which holdings or investment categories drove the increase.

Under US generally accepted accounting principles (GAAP), unrealized gains on equity securities hit net income.

That means the jump may reflect mark-to-market revaluations rather than profit from Alphabet’s core business.

Alphabet holds stakes in SpaceX and Anthropic, but the company did not link either investment to the quarterly gain.

🔗 Source: Bloomberg

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