Alphabet (GOOGL - Get Report) shares were unmoved by President Donald Trump's latest attack the Google parent Tuesday after his accused the company of "very illegal" activity during the 2016 Presidential election.
Trump cited an interview late Monday on Fox News with Kevin Cernekee, a former Google engineer who was fired for mis-using company equipment and has accused the company of suppressing his conservative political beliefs, as well as those of his colleagues.
"Lou Dobbs stated that this is a fraud on the American public," Trump said Tuesday. "Peter Schweizer stated with certainty that they suppressed negative stories on Hillary Clinton, and boosted negative stories on Donald Trump. All very illegal. We are watching Google very closely!"
@sundarpichai of Google was in the Oval Office working very hard to explain how much he liked me, what a great job the Administration is doing, that Google was not involved with China's military, that they didn't help Crooked Hillary over me in the 2016 Election, and that they...— Donald J. Trump (@realDonaldTrump) August 6, 2019
Google said earnings for the three months ending in June came in at $14.21 per share, up 21% from the same period last year and well ahead of the Street consensus forecast of $11.30 per share, Group revenues also surprised to the upside, following the group's first quarter disappointment, rising 19% to $38.9 billion and topped analysts' estimates of a $38.15 billion tally.
Google also said its costs were largely unchanged from the same period last year -- at around $29.8 billion -- even as its operating margin improved by 6% from the previous quarter to around 24%, a firmer-than-expected reading that suggests continued profitability. Google's cloud business, while only around a quarter of the size of Amazon Inc.'s AMZN, had an annual revenue run-rate of $8 billion.