Google-parent Alphabet Inc.
(NASDAQ:GOOG) (NASDAQ:GOOGL) just posted the largest quarterly profit in its history — but most of the $112.1 billion windfall didn't come from its Search or Cloud business.
It came from paper gains on its investments in Anthropic and newly public SpaceX (NASDAQ:SPCX).
SpaceX Gains Drive Record Quarterly Profit Alphabet earned $9.11 per share on $119.8 billion in revenue, up 24% from a year earlier.
But it recorded a roughly $98 billion net gain, mainly from equity investments.
