Gains across the board for Alphabet
Alphabet showed more than resilience in Q3, and it has the numbers to prove it. The latest earnings report showed how the company’s figures topped expectations.
The company announced earnings per share of $16.40, on revenue of $46.17 billion. The market was expecting $11.29/share on $42.90 billion in revenues.
Google search and other similar services reported an increase in revenue of 6.5% to $26.34 billion. YouTube reported a jump in ads of 32.4% to $5.04 billion. For YouTube, the estimates were of $4.39 billion.
The overall ad revenue came in at $37.10 billion for the quarter, topping last year’s numbers of $33.80 billion.
Alphabet officials stated that starting Q4 of 2020 will “break out Google Cloud as a separate reporting segment” following Amazon’s model.
Read about how the tech and social media behemoths have performed in the last quarter here!
Sources: cnbc.com, marketwatch.com
This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com