Alphabet net income rises 24% to $4.8 billion
Google's parent company Alphabet on Thursday reported a 24% year-on-year rise in net income to $4.87 billion in the quarter ended June. The company's revenue increased 21% compared to the last year period to $21.5 billion. Further, Google's operating income also increased 24.7% to $6.99 billion. The higher profits were driven by higher advertising sales, analysts said.