2 weeks Ago By Reuters
(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’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.
(Reporting by Deborah Sophia in BengaluruAdditional reporting by Kenrick Cai in San Francisco; Editing by Anil D’SilvaEditing by Anil D’Silva and Matthew Lewis) Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content. var ytflag = 0;var myListener = function() {document.
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