Shares of Alphabet, the parent company of Google, rose by 3% following the announcement of third-quarter results, which exceeded all expectations. According to the reported results, the earnings per share amounted to $2.12 compared to the expected $1.85 from LSEG, while revenue was $88.27 billion compared to the LSEG forecast of $86.30 billion.
Other financial indicators, monitored by Wall Street, were as follows: revenue from YouTube advertising - $8.92 billion compared to $8.89 billion, according to StreetAccount; revenue from Google Cloud - $11.35 billion compared to $10.88 billion, according to StreetAccount; traffic acquisition costs (TAC) - $13.72 billion compared to $13.53 billion, according to the data.
"We are pleased to share our results for the third quarter, which reflect a strong growth of our business products and services," said the head of Alphabet.
