Alphabet Reports Strong Q3 Earnings

Shares of Alphabet Inc GOOGL GOOG traded higher in Thursday’s after-hours session, following the announcement of the tech giant’s third-quarter results.

Earnings of $9.57 per share beat the Street’s consensus by $1.24, while revenue of $27.8 billion, up 23.8 percent year-over-year, was $600 larger than anticipated.

Q3 Highlights

• Ad revenue rose by 21.4 percent to $24.07 billion
• Paid clicks surged by 47 percent year-over-year
• The company’s loss from its “Other Bets” fell by more than 5 percent to $812 million

“We had a terrific quarter, with revenues up 24% year on year, reflecting strength across Google and Other Bets,” said CFO Ruth Porat. “Our momentum is a result of investments over many years in fantastic people, products and partnerships.”

Shares of Google traded up more than 4.5 percent in after-hours. See the full release here.

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