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Google’s parent company briefly hits $2 trillion valuation


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acastro_180130_1777_0001.0.jpg Illustration by Alex Castro / The Verge

Alphabet, Google’s parent company, briefly hit a market cap of $2 trillion. The tech behemoth’s market cap is currently at a comfortable $1.98 trillion, but crept over the $2 trillion mark midday Monday, later closing out at $2,987.03 per share. Alphabet’s market cap has just about doubled from $1 trillion since January 2020.

In the third quarter of 2021, Alphabet had a record quarter, earning a hefty $65.1 billion. The company reported that its revenue soared by 41 percent, while its profits jumped by almost 69 percent. Google Search saw a slight increase in profit, climbing to $37.9 billion from $35.8 billion in the previous quarter. YouTube, another Alphabet company, earned $7.2 billion in the most recent quarter.

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