Alphabet Beats On Top, Bottom Line

Alphabet IncGOOGGOOGL reported earnings after the close and traders were happy with the results.

• Alphabet reports Q3 EPS $9.06 beating analyst estimates of $8.64
• Revenues came in at $22.45 billion, beating by $400 million
• Revenues Increased 13 percent year-over-year in Q3
• The company did not issue guidance
• Alphabet announced a $7 billion stock buyback plan

"We had a great third quarter, with 20% revenue growth year on year, and 23% on a constant currency basis. Mobile search and video are powering our core advertising business and we're excited about the progress of newer businesses in Google and Other Bets," said CFO Ruth Porat.

After trading up more than 2 percent, the stock recently traded at $819.47, up about 0.4 percent.