Alphabet reports stronger-than-expected Q3 figures

By: Miguel A. Rodriguez

16:05, 30 October 2020

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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.

After the news hit the wire, Alphabet’s stock price went up 9%.

Read about how the tech and social media behemoths have performed in the last quarter here!

Sources: cnbc.com, marketwatch.com

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This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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