Google ad business fetches record revenues, Alphabet shares up 8%

Google parent Alphabet Inc reported record quarterly sales that topped expectations on Tuesday, as its internet advertising business surged on consumers using Google search as they shopped online and advertisers upping their marketing budgets.

Alphabet's shares jumped more than 8% in after-hours trading, also rising on the company's announcement that it would undertake a 20-to-one stock split.
 

The results were the latest to reinforce that the global trend toward a more digital economy has made Big Tech companies resistant to small-market shocks. While concerns about rising inflation, COVID-19 variants and supply-chain shortages have rattled Wall Street and hurt sales at some