Alphabet Inc. shares rose 2.5% in the extended session Monday after the company topped analyst estimates. Alphabet stock was down a fraction to $1,073.44 during the regular session. The company reported first-quarter net income of $9.4 billion, or $13.33 a share, compared with $5.43 billion, or $7.73 a share, in the year-ago period. The search giant logged a $3.03 billion gain in its other income and expenses line item due to investments that it holds that it now must report on its financial statements. Excluding that gain, Alphabet logged earnings of $9.93 a share. Revenue rose to $31.15 billion from $24.75 billion in the year-ago period and traffic acquisition costs were $6.29 billion. Analysts surveyed by FactSet had estimated $9.28 a share on revenue of $24.26 billion excluding traffic acquisition costs. For the second quarter, analysts model earnings of $9.90 a share on revenue of $25.25 billion, excluding TAC. Alphabet class A stock has gained 25% in the past year, with the S&P 500 index rising 14%.