Shares of Google parent Alphabet jump as company beats Wall Street forecasts

Alphabet reports 13% rise in quarterly profits boosted by strong advertising sales driven by YouTube and mobile search

Stock in Alphabet - formerly known as Google Inc - jumped in after-hours trading on the news the company had beaten Wall Street expectations with an earnings per share of $5.73.

The company reported a 13% rise in quarterly revenue, boosted by strong advertising sales driven by YouTube and mobile search, it said. Its advertising line-items seemed to suggest a slightly different story - the company's cost-per-click (how much it receives for every ad a user clicks on) was down 11% year-over-year, though its aggregate paid clicks metric was up 23%.