<div id="readability-page-1"><div>Search giant Google’s parent company, Alphabet Inc. GOOG, just reported its highest-ever quarterly earnings, bolstered by other income in the form of an unrealized gain tied to its investment in a private company.What Happened: On Thursday, the search giant reported $34.5 billion in earnings during its first quarter, an increase of 46% year-over-year. This performance was aided by the company’s $11.2 billion in “Other Income,” which marks a 293% increase from the prior year, boosted by $8 billion in unrealized gains on its “non-marketable equity securities.”Alphabet CFO, Anat Ashkenazi, addressed this during Thursday's earnings call but did not disclose the name of the company involved, consistent with the company’s long-standing practice of withholding specifics on private market investments.See More: Alphabet Q1 Earnings Highlights: Google Search, YouTube, Cloud Show ‘Robust Momentum’The private company in question has since been identified as SpaceX, according to a report by Bloomberg, which cited sources familiar with the matter. Alphabet, alongside Fidelity Investments, acquired a 10% stake in the aerospace firm for $1 billion in 2015.Why It Matters: Alphabet’s earnings per share at $2.81 were well ahead of consensus estimates at 2.01 per share, and 49% over prior year figures at $1.89. This was largely due to this one-time gain of $8 billion.In December 2024, SpaceX and its investors agreed to purchase insider shares totaling $1.25 billion, valuing the company at over $350 billion.SpaceX dethroned Tesla Inc. TSLA as Elon Musk’s most valuable company last month, owing to it being better insulated from the fallout of Musk’s growing political involvement. Price Action: Alphabet shares were up 2.38% on Thursday, and are up 4.63% in after-hours trading following the company’s first quarter earnings release.<figure><img width="1024" height="139" src="https://imageproxy.pbkrs.com/https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24232338/Screenshot-2025-04-25-at-8.53.24-AM-1024x139.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24232338/Screenshot-2025-04-25-at-8.53.24-AM-1024x139.png"/></figure>Alphabet stock scores poorly in Benzinga’s Edge Stock Rankings, with an unfavorable price trend in the short, medium, and long terms. For more such insights, join Benzinga Edge.Photo Courtesy: MNAphotography on Shutterstock.comRead More: Can Google Adapt Like Amazon Or Will It Face eBay’s Fate? Gene Munster Says ChatGPT ‘Overhang’ Isn’t Going Away, Shares Candid Take On The Path Forward</div></div>

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Alphabet Inc. reported its highest quarterly earnings of $34.5 billion, a 46% increase year-over-year, driven by an $8 billion unrealized gain from its investment in SpaceX. The company's other income surged by 293% to $11.2 billion. Alphabet's earnings per share reached $2.81, surpassing estimates. The investment in SpaceX, acquired in 2015, has significantly contributed to Alphabet's financial performance. Following the earnings report, Alphabet shares rose by 2.38%.

- Alphabet Inc. reported a record $34.5 billion in earnings for Q1, a 46% increase year-over-year, driven by $11.2 billion in "Other Income," including $8 billion from unrealized gains in private investments.  
- The private company linked to these gains is SpaceX, in which Alphabet acquired a 10% stake for $1 billion in 2015.  
- Alphabet's earnings per share of $2.81 exceeded estimates, contributing to a 2.38% rise in stock price following the earnings announcement.

Google-Parent Alphabet Got $8 Billion Unrealized Profit Boost Reportedly From Investment In Elon Musk's SpaceX