Google stock jumps 8% after blowout quarter fueled by strong ad sales

Despite being one of the biggest online advertising giants, Google's ad business is still growing at a rapid clip.
Google's ad sales grew nearly 33% year-over-year to $61.2 billion during the three months ending in December, and contributed to an overall better-than-expected quarter for its parent company, Alphabet (GOOGL).
The company on Tuesday reported quarterly profit of $20.6 billion, or $30.69 per share, on revenue of $75.3 billion, well ahead of what Wall Street analysts had projected.
Alphabet stock rose as much as 8% in after-hours trading following the announcement Tuesday.