Google parent Alphabet on Monday reported a jump in first-quarter net income on the back of strong digital ad sales and an accounting adjustment.
The Mountain View, California-based company's net income surged 73 percent to $9.4 billion, or $13.33 per share. Earnings, adjusted for non-recurring gains including those from the accounting change, were $9.93 per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $9.21 per share.
The internet search leader posted revenue of $31.15 billion in the period. After subtracting Alphabet's advertising commissions, revenue was $24.86 billion, also beating Street forecasts. Eleven analysts surveyed by Zacks expected $24.2 billion.
Still, Google's sunny quarter comes amid the backdrop of looming privacy regulations in the U.S. and Europe.
Backlash over Facebook's "breach of trust" regarding Cambridge Analytica could spark U.S. regulation that would crimp political ad spending on Google properties including YouTube. The Federal Election Commission has begun to review rules around ads that directly support federal candidates, though that would not have prevented Russian meddling in the 2016 U.S. presidential race.
In Europe, the May 25 kick off of the General Data Protection Regulation is forcing Google, Facebook, Slack and other U.S. companies to adopt policies that make consumers more aware of what data they are handing over to online services. If users around the globe get more squeamish about how their data is used, it could slow Google's ad-revenue machine.
But these clouds did not deter Alphabet investors who sent shares up about 1 percent in aftermarket trading.
Shares in Alphabet Inc. have risen 2 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat.
Jean Smart, Ariana Grande, Michael Keaton among hosts for “SNL” season 50
Fresh off her Emmys win, Jean Smart will kick off the landmark 50th season of "Saturday Night Live."
NBC on Thursday announced the lineup of hosts for the season, which premieres Sept. 28. Joining Smart on the first show will be Jelly Roll as the musical act. He was also at the Emmys, singing during the ceremony's in memoriam segment.
It will be Smart's first time hosting "SNL."
Comedian Nate Bargatze will host on Oct. 5, with Coldplay as the musical guest.
Ariana Grande will host Oct. 12, with musical guest Stevie Nicks.
"Beetlejuice" star Michael Keaton will host on Oct. 19, the last show before Halloween, and Billie Eilish will be that night's musical guest.
The host on Nov. 2 will be "SNL" alum John Mulaney, with breakout sensation Chappell Roan as the music guest.
Read More