In the nine months, Alphabet’s net results amounted to $53.108 billion, compared to $46.348 billion in the same period of the previous year.
Alphabet, owner of Google, reported net earnings of $19.69 billion in the third quarter, which translates to adjusted earnings per share of $1.55, above analysts’ expectations of $1.45. The result also represents growth of 41.55% compared to net income of $13.910 billion in the same quarter of 2022, or $1.06 per adjusted share.
In the nine months, Alphabet’s net results amounted to $53.108 billion, compared to $46.348 billion in the same period of the previous year.
In a statement, CEO Sundar Pichai said he was “thrilled with our financial results and product momentum this quarter, with AI-powered innovations in search, YouTube, the cloud, our Pixel devices and more.”
The result in the cloud computing component disappointed expectations and stocks fell after hours on Wall Street.
The company’s third-quarter revenue was $76.693 billion, representing 11% year-over-year growth. Operating income was $21.343 billion, compared to $7.135 billion.
Alphabet also recorded growth in Google advertising revenue, reaching $54.482 billion.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
