Alphabet and Microsoft results beat Wall Street expectations

Alphabet's second-quarter profit exceeded forecasts, while Microsoft beat estimates for its fiscal fourth-quarter sales and profits

Microsoft CEO Satya Nadella. Its fiscal fourth-quarter sales and profits performance is attributed to growth in its cloud computing and office software businesses. File picture: Sean Gallup/Getty

Alphabet’s second-quarter profit exceeded Wall Street expectations on Tuesday night and the Google parent announced that its long-time chief financial officer 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 nearly 5% in after-market trading.