SAN FRANCISCO—Alphabet’s second-quarter profit exceeded Wall Street expectations on Tuesday and the Google parent announced that its long-time CFO, Ruth Porat, would assume a new role while the company sought a new finance chief.
Alphabet’s results were helped by steady demand for its cloud services and a rebound in advertising. The shares jumped 8 percent in after-hours trading. Shares of rival Microsoft were down slightly after it also reported results on Tuesday, while shares of Meta Platforms, a company also highly dependent on ad sales, rose as much as 2 percent.
