Shares of Alphabet Inc. soared more than 6% in early trading on Wednesday after the company reported strong financial results for the fourth quarter of fiscal 2020, pushing the tech giant's stocks to an all-time high.

The California-based firm managed to beat market expectations as its revenues climbed 23% on an annual basis to $56.90 billion in the fourth trimester. Net income went up by 43% compared to the same period last year to $15.23 billion, translating to $22.30 per diluted share.

Alphabet jumped 6.28% at 9:43 am ET to go for $2,039.55 per share.