Alphabet Inc. shares roared to prices that would be record highs if they occurred in regular trading, after reporting second-quarter earnings Monday afternoon that were slammed by a recent record antitrust fine out of Europe yet easily surpassed expectations. The Google parent company reported $3.2 billion in net income for the quarter, which works out to $4.54 a share, down from $5.01 a share a year ago, when the company also dealt with a big antitrust fine out of the EU. Without the fine, Alphabet would have reported earnings of $11.75 a share, the company said, well higher than analysts’ average estimate of $9.64 a share, according to FactSet. Alphabet reported revenue after accounting for traffic-acquisition costs of $26.24 billion, up from $20.91 billion in the second quarter of 2017 and higher than the average analyst estimate of $25.58 billion. Alphabet shares jumped nearly 5% in after-hours trading Monday to prices higher than its intraday record of $1,221.59, following a 1.1% gain in regular trading to $1,211. The company’s class A shares have gained 15% so far this year, as the S&P 500 index has increased 4.8%.
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