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Alphabet reports stronger-than-expected Q3 figures

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Miguel A. Rodriguez
Miguel A. Rodriguez
30 October 2020
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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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.