MOUNTAIN VIEW, Calif. (AP) _ Alphabet Inc. (GOOGL) on Tuesday reported second-quarter net income of $18.52 billion.

On a per-share basis, the Mountain View, California-based company said it had net income of $27.26.

The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $19.89 per share.

The internet search leader posted revenue of $61.88 billion in the period. After subtracting Alphabet's advertising commissions, revenue was $50.95 billion, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $46.07 billion.

Alphabet shares have increased 51% since the beginning of the year, while the S&P's 500 index has increased 17%. In the final minutes of trading on Tuesday, shares hit $2,638, a climb of 72% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GOOGL at https://www.zacks.com/ap/GOOGL

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