NEW YORK (TheStreet) -- Shares of Alphabet (GOOGL) - Get Report are climbing 5.78% to $810.12 in after-hours trading on Thursday after the tech giant reported better-than-expected results for the 2016 second quarter.

Please be sure to check out our live blog breaking down Alphabet's earnings.

After today's market close, the parent company of Google posted earnings of $8.42 per share, handily beating analysts' expectations of $8.04 per share.

Revenue climbed 21% to $21.5 billion from last year and topped analysts' estimates of $20.76 billion.

Google advertising revenues rose 19% year-over-year from last year.

Aggregate paid clicks jumped 29% from last year, while paid clicks on Google websites spiked 37% vs. the same quarter last year.

"Our terrific second quarter results...reflect the successful investments we've made over many years in rapidly expanding areas such as mobile and video," CFO Ruth Porat said in a statement.

About 2.41 million of the company's shares changed hands today vs. its average volume of 1.76 million shares per day.

(Alphabet is a core holding in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trial here.)

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B+ on the stock.

The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and good cash flow from operations. 

Recently, 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 articles's author.

You can view the full analysis from the report here: GOOGL

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