Alphabet Shines Amid Mixed Consumer Internet Q2 Earnings

Alphabet (NASDAQ:GOOGL), the parent company of Google Search engine, Google Cloud Platform, and YouTube, reported impressive Q2 earnings that surpassed analysts' expectations. The company's revenues reached $119.8 billion, a 24.2% year-over-year increase.

This was not an isolated success story among consumer internet stocks. However, when looking at the group as a whole, there is a mixed picture. The 44 tracked companies reported a combined revenue beat of 1.3%, but next quarter's guidance came in 3% below expectations.

Among the consumer internet stocks, Alphabet was the standout performer, with a solid beat of analysts' EPS estimates and its stock trading flat since reporting at $345.09 per share.