Alphabet, formerly Google, beats Wall Street's profit forecasts; sets share buyback, shares jump

Alphabet, formerly Google, beats Wall Street's profit forecasts; sets share buyback, shares jump

A prototype of Google's own self-driving vehicle is seen during a media preview of Google's current autonomous vehicles in Mountain View, California September 29, 2015. REUTERS/Elijah Nouvelage

Alphabet Inc, the new holding company for Google, introduced its first share buyback and beat Wall Street’s profit forecast on Thursday, helped by solid progress in mobile and video advertising, sending the stock to its highest-ever level in after-hours trading.

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