Google (Alphabet) reported its second-quarter earnings, with earnings per share (EPS) reaching $9.11, far exceeding Wall Street’s expectations of $2.90.According to FactSet data, Google was the largest contributor to the S&P 500’s year-over-year earnings growth in the second quarter; excluding its performance, the index’s earnings growth would have fallen from 37.9% to 25.9%. Google 's strong earnings were primarily driven by $98 billion in unrealized gains on its equity holdings, including approximately $94 billion in shares following SpaceX’s initial public offering.