Alphabet Inc.’s earnings were a bit better than Wall Street had expected. But will that beat really matter for the company’s stock? Bernstein Research analyst Mark Shmulik said in a note to clients that Alphabet by most accounts,

(Reuters) -Google parent Alphabet unveiled a $70 billion share buyback and beat quarterly revenue estimates on Thursday, benefiting from steady growth in its digital advertising business, which helped offset muted growth at its cloud computing unit.