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Alphabet Inc. (NASDAQ: GOOGL) released its most recent quarterly results after markets closed Monday. The company reported $11.75 in earnings per share (EPS) on $32.7 billion in revenue, compared with consensus estimates that called for $9.59 in EPS on $32.19 billion in revenue. The same period from last year had $8.90 in EPS on $26.01 billion in revenue.

Traffic acquisition costs (TAC) to Google Network Members and distribution partners totaled $6.42 billion at the end of the quarter, up from $5.09 billion in the same period last year. Total TAC as a percent of Google advertising revenues was 23% for the quarter, up from 22%.

Paid clicks on Google properties increased 58% year over year and 15% quarter over quarter. The cost-per-click on Google properties decreased 22% year over year and 10% quarter over quarter.

In terms of its segments Alphabet reported:

• Google advertising revenues totaled $28.09 billion, up 23.9% year over year.
• Google other revenues totaled $4.43 billion, up 36.5%.
• Other Bets revenues totaled $145 million, up 49.5%.

Ruth Porat, CFO of Alphabet and Google commented:

We delivered another quarter of very strong performance, with revenues of $32.7 billion, up 26% versus the second quarter of 2017 and 23% on a constant currency basis. Our investments are driving great experiences for users, strong results for advertisers, and new business opportunities for Google and Alphabet.

Shares of Alphabet closed Monday at $1,210.89, with a consensus analyst price target of $1,283.29 and a 52-week range of $918.60 to $1,221.59. Following the announcement, the stock was up over 5% at $1,276.00 in the after-hours trading session.