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This June 4, 2014, file photo, shows Amazon boxes in Phoenix. (AP Photo/Ross D. Franklin, File)

Crushed it: Amazon and Google post big earnings beats


Rounding out the week's tech-heavy earnings releases, Amazon and  Google both posted quarterly beats Thursday after the bell.

The two tech stocks saw their shares pop following the news, though Amazon's shares did drop briefly before clawing back.

For Amazon, the strong results mark the third straight quarter of record profit.  The online retailer's earnings per share came in at $1.78 and revenues of $30.4 billion.

Google parent company Alphabet's second-quarter revenue came in at $21.5 billion.

And notably, Alphabet's "moonshots" shined brightly with a 33 percent increase in sales.

After Alphabet restructured last year, investors have been eager to see if its "moonshot" bets -- like driverless cars -- will pay off.  Per CNN Money, they have, but at a cost.

Meanwhile, for Amazon, the results come on the heels of Prime Day number two, in which the company reported its biggest sales day yet. 

For a company known for being a big spender, the blockbuster profits streak affirms Amazon is working hard to invest in building out new and existing ventures.

Amazon's cloud unit has become its fastest-growing, with a 58 percent surge this quarter.

Body cam footage shows fearless officer rescuing a wounded mother and her children

For more news of the day, check out our 60 Second Circa for Thursday PM, July 28, 2016.

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