After the market close, the Google parent company reported adjusted earnings of $9.06 per share, topping analysts' estimates of $8.63 per share.
Revenue grew 20% year-over-year to $22.45 billion and beat analysts' estimates of $22.05 billion.
Revenue within Alphabet's Other Bets segment came in at $197 million for the period, which missed the FactSet consensus of $209 million.
Paid clicks were up 33% compared to the year-ago period, surpassing analysts' estimates of growth of 27%. But cost per click fell 11% year-over-year, while analysts surveyed by FactSet were looking for a decline of just 4.8%.
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Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of A.
Alphabet's strengths include its compelling growth in net income, robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and reasonable valuation levels.
You can view the full analysis from the report here: GOOGL
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.