Business

Google’s parent company Alphabet beats on earnings, brings in $27.77 billion in Q3

Google’s parent company Alphabet topped Wall Street’s Q3 financial targets, as its mobile search advertising business and YouTube video site pushed revenue up 24% from the year before.
Shares of Alphabet were up as much 4% in after hours trading on Thursday, following the announcement.
Thursday afternoon was tech earnings mania with Amazon, Alphabet, Intel and Microsoft all reporting earnings. All of them beat expectations across the board.
Alphabet executives pointed to strength in its online ad business across regions of the world during the third quarter, and highlighted new initiatives like Google’s fledgling line up of hardware products and Google’s cloud computing business.
“You’re clearly entering an era where you’re going to have different types of computing experiences,” Google CEO Sundar Pichai said during the conference call with analysts. “So to do that and to stitch it all together across, I think it’s important that we thoughtfully put our opinion forward.”