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Google CEO Sundar Pichai speaks during the Google I/O keynote session at Shoreline Amphitheatre in Mountain View, California on May 7, 2019.
Josh Edelson | AFP | Getty Images
Alphabet reported profit and earnings for the third quarter that topped analysts’ estimates.
Here’s what the company reported:
Earnings per share (EPS): $27.99 per share vs $23.48 per share, according to Refinitiv estimates.Revenue: $65.12 billion vs $63.34 billion, according to Refinitiv estimates.YouTube advertising revenue: $7.20 billion vs. $7.4 billion expected.Google Cloud revenue: $4.99 billion v. $5.07 billion expected.Traffic acquisition costs (TAC): $11.50 vs. $11.16 billion expected.
Google’s advertising revenue rose to $53.13 billion — up from $37.10 billion the same time last year.
Revenue in Google’s cloud division climbed 45% to $4.99 billion, while operating loss narrowed to $644 million from $1.21 billion. Alphabet has been investing heavily in the unit, which is led by former Oracle executive Thomas Kurian, in an effort to catch up to Amazon Web Service and Microsoft Azure.
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