Alphabet, Inc., the company previously known as Google, has reported another quarter of stellar results off the back of continued advertising growth from its core Google business.

Beating market expectations, Alphabet reported revenue $21.3 billion on $8.67 earnings per share, versus the average Wall Street prediction of $20.8 billion on $8.10. Of those figures, the original Google business, one of multiple units within the company, accounted for 99 percent of revenue.

The division of Alphabet into different business units assisted the core Google business given it is no longer saddled with “moon shots,” with its revenue coming in at $6.7 billion on a margin of 32 percent, up from $5.6 billion in operating income and a 31 percent margin in the same quarter of 2014.

Among the specific product figures, Alphabet disclosed that Gmail, Google’s email service, has topped 1 billion active users for the first time, up from 900 million monthly active users as of May; the company also noted that its other services with 1 billion users included Search, Android, YouTube, Maps, Chrome, and Google Play.

Paid click volumes were up 31 percent compared to the same quarter in 2014, with 40 percent growth on Google-owned sites versus the Google Adsense network where other sites host ads provided by Google; YouTube’s TrueView ad format was credited with boosting clicks, particularly with mobile users.

For the first time the financials included a breakdown of Alphabet’s “other bets” (any business unit not called Google) and the numbers were not exciting, with others posting revenue of $448 million on a loss of $3.57 billion, with Nest, Fiber, and the Verily Life Sciences unit making up most of the revenue.

“Our very strong revenue growth in Q4 reflects the vibrancy of our business, driven by mobile search as well as YouTube and programmatic advertising, all areas in which we’ve been investing for many years,” Alphabet Chief Financial Officer Ruth Porat said in a statement. “We’re excited about the opportunities we have across Google and Other Bets to use technology to improve the lives of billions of people.”

Apple killer

The market absolutely adored Alphabet’s financials and drove the stock up $39.00/ share or 5.91 percent in after-hours trading to $791.00 per share.

That number may not seem like anything of particular note by itself until you realize that at that share price Alphabet has now surpassed Apple and is now the biggest company on the face of the planet by market capitalization.

If the share price holds when the market opens Tuesday Alphabet would have a value of $555 billion, some $20 billion higher than the $535 billion market value of Apple.

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