Alphabet Inc.’s earnings were a bit better than Wall Street had expected. But will that beat really matter for the company’s stock? Bernstein Research analyst Mark Shmulik said in a note to clients that Alphabet by most accounts,

Google parent Alphabet unveiled a $70 billion share buyback and beat quarterly revenue estimates on Thursday, benefiting from steady growth in its digital advertising business.

Google parent Alphabet Inc. reported first-quarter revenue and profit that exceeded analysts’ expectations, buoyed by continued strength in its search advertising business.