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Google (and Facebook) are getting almost all digital ad money

With Alphabet and Facebook crushing analyst estimates in the second quarter — while Twitter delivered a mixed quarter — it is a tale of two cities when it comes to the three biggest independent U.S. tech companies whose businesses rely on ads.

In the June quarter, Google reported websites revenue of $15.40 billion, up 24 percent from the prior year's comparable quarter, roundly beating analyst expectations of $15.01 billion. (This is the number investors focus on when looking at ad revenue, said Raymond James analyst Aaron Kessler.)

For overall ad revenues — which includes Google websites (the lion's share at $15.40 billion) and Google Network Members websites ($3.74 billion), Alphabet reported $19.14 billion, an increase of 19 percent year over year.

Google's overall segment revenues were $21.32 billion, up 21 percent year over year. The company's stock hit an all time high in after hours trading.

Though Alphabet, Facebook and Twitter are all heading in a positive direction when it comes to growing ad revenue, Facebook and Alphabet are consolidating their market share, confirming what many investors have long...