Alphabet's Rocketing Earnings May Soon Crash Back to Earth Alphabet's second quarter earnings report has left investors and analysts stunned, but beneath the impressive bottom line lies a precarious web of investments that could yet bring down the tech giant.
The company's 294% year over year earnings per share increase was fueled by its core business and significant gains from nonoperating items, particularly its stakes in high risk ventures like SpaceX.
The surge in Space Exploration Technologies Corp. 's value has boosted Alphabet's bottom line with nearly $100 billion in other income, primarily from unrealized gains on its equity securities portfolio.