in, i just got off the phone with ruth porat, the ceo of alphabet. we talked about what was driving the earnings strength. she said they will concentrate on mobile. she says we focus on innovation in mobile. we will look for improvements that can enhance growth across platforms and we will support opportunities we see, which is interesting given that we are significantly again. as for how long that could keep going on, she said, investment is supporting growth across the business. it is search and ads, it is the importance of new machine learning. we are looking for additional compute capacity given the outlook for growth. google isnvestment making across its platforms concern you, this rise in capex? no, it does not concern me at all. i think from an advertising perspective, it is a great thing. you want even more innovation at this point and i think you have seen it, a little bit, and taking some of the advertising products, advertising technology and putting it together so it is more easy as an advertiser to buy across youtube, across google searc

that's not something ruth porat would get into on our call.he directed all the questions about the fine and about cloud as well, test sundar per child, the ceo of google who is talking about the earnings as we speak. let us talk a little bit about the cloud. google is in third place right now behind microsoft and amazon, but it is also rapidly growing territory. how much do you think the cloud in particular could supercharge alphabet growth going forward? >> before this earnings season, i talked to a couple of analysts , and one thing they were especially looking for, was not just expansion of the cloud revenue, but really to see more diversity out of alphabet's revenue. they were just completely reliant on the ad space. i think you are seeing that in these numbers. now are a few charts on the terminal that will make their way around, that show that in the past few quarters, add spending is dropping mildly but they are finding other ways to bring in more revenue and giving investors more to hang their hat on. i can tell you that a lot of inves

in our phone call, ruth porac, did talk about that. -- ruth porat, did talk about that. we are interesting, seeing many of these regulations coming from europe, perhaps as an effort to spread the wealth a little bit, but in this particular case, it has concentrated the wealth in the hands of google. emily chang, thank you so much. she is the host of "bloomberg technology" in san francisco. we will speak with chief analyst bob o'donnell in about half an hours time. todi: jump tweets managed rock the markets. su keenan is joining us to put it all in -- to put it all together with bank earnings. beent probably would have a down day with the market hugging the line throughout the session. let's go to the snapshot. we did see dollars gain. the 10-year was lower. financials.e s&p that was the strongest index in the markets today. the s&p 500, you can see, was up better than 1%. the nasdaq also showing a bit of strength. there was an etf tied to that that was up a good half of a percent. let's go to the big movers. wells fargo, the bank, one of the strongest, along with hasbro,

i asked ruth porat her reaction and she declined to comment on the president's tweet.ent on gdpr i wanted her sense of what the new data a privacy law will mean for their business here is what she had to say about gdpr we still think it is too early to comment on the long term impact to the business we've always been very committed to privacy and have great privacy tools every day. we have taken a number of additional steps such as improving user transparency so it is easier to understand the information we collect switching gears, asked about youtube. certainly when you talk to analysts on the street, they would love ruth porat to start breaking out youtube but when i asked ruth porat about that, no clear indication if she is thinking about breaking out youtube that is coming in the near to intermediate term. she certainly didn't give me a time table of when that might happen head count, that was an interesting metz metric too. up 18% i asked where they are hiring and she said we have a lot of additions in the growth opportunities in terms of functions, it continues t

but ruth porat talked about how privacy is one of google's main values.orking on getting compliant for a long time in continuing to add new transparency tools. another thing we need to pay attention to is capex. we saw it go up again this quarter. last quarter capex because of that big piece of property they bought in chelsea in new york city, she talked about how they are going to continue to invest in the vig growth opportunities -- the big growth opportunities that the sea, that we should expect to see those capex numbers continue to rise over time. julie: if you look at how the shares are performing, up 4% in after hours trading. scarlet: you have been pointing out if they open at these levels, this would be a record high for alphabet shares. having said that, alphabet has trailed behind the other fangs in terms of momentum stocks, it has not kept pace. and part of that is because of the expense story, the rising cost, particular traffic acquisition costs. emily: our producer put together a great chart showing revenue growth for facebook, amazon and n