(Reuters) -Alphabet topped third-quarter revenue expectations on Tuesday, helped by steady growth in its digital advertising business and an AI-driven jump in demand for its cloud services.
Shares of the company rose 3% in extended trading.
Digital advertising sales – the biggest chunk of Alphabet (NASDAQ:)’s total revenue – rose to $65.85 billion from $59.65 billion.
Revenue from Google’s cloud platform grew to $11.35 billion, beating analysts’ estimate of $10.86 billion.
Alphabet reported a profit of $2.12 per share. Analysts were expecting per-share earnings of $1.85.
Revenue increased 15% to $88.27 billion in the July-September period, while analysts on average expected $86.30 billion, according to LSEG data.
!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window, document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
by : Reuters
Source link