Alphabet Inc. said its first-quarter profit was boosted by $8 billion in unrealized gains from an investment in a private company. That company is Elon Musk’s Space Exploration Technologies Corp., according to a person familiar with the matter.

(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.