Alphabet's stock rises 6% as Q2 earnings show exceptional growth

Alphabet, the parent company of Google, reported better-than-expected results for the second quarter on Tuesday after the bell. The positive revenue and profit statistics propelled Alphabet stock GOOG up nearly 6% in after-hours trading, with shares hovering near $130.

Alphabet reported sales of $74.6 billion in the June quarter, rising 7% year on year and exceeding projections of $72.82 billion. Net income, or profits, totaled $18.37 billion, or $1.44 per share, exceeding expectations of $1.34 per share and exceeding the previous quarter's $1.21 per share.

In other news, the mega-cap IT behemoth is relocating its CFO. Ruth Porat, Alphabet's finance leader, is stepping down after eight years in the position.