Google parent Alphabet beats quarterly revenue estimates

FILE PHOTO: A man walks past a logo of Alphabet Inc's Google in front of at an office building in Zurich, Switzerland July 1, 2020. REUTERS/Arnd Wiegmann

(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.

Shares of the company jumped 6% in extended trading.