MILAN (Reuters) -Alphabet shares rose 2.5% in early European trading on Thursday after the Google parent company raised its capital spending plans, following a strong beat of Wall Street estimates for quarterly revenue and profit.

Wednesday’s report follows Alphabet’s better-than-expected Q1 release earlier this year, in which the company reported year-over-year growth of 12% and 49% for its top and bottom lines, respectively, after Google’s search unit generated more in sales than analysts projected.