Alphabet Shines in Q2, Reddit's Growth Falls Short

Alphabet (NASDAQ:GOOGL), the parent company of Google Search engine and YouTube, reported a stunning quarter with revenues of $119.8 billion, up 24.2% year on year.

This exceeded analysts' expectations by 2.2%, making it one of the top performers in the consumer internet sector.

The market was likely pricing in the results, and the stock is flat since reporting at $345.09.

On the other hand, Reddit (NYSE:RDDT) reported revenues of $804.9 million, up 61.1% year on year, outperforming analysts' expectations by 9.9%. Despite its impressive growth, the market seems unhappy with the results as the stock is down 13.8% since reporting.

Coinbase (NASDAQ:COIN), a blockchain infrastructure company, reported weaker results, with its share price declining further after its Q2 earnings release.