Google's parent company Alphabet beats on earnings, brings in $27.77 billion in Q3
- Google beat expectations on Q3 results, sending the stock popping after hours.
- The company generated $27.77 billion in revenue, up 24% from a year ago.
- Despite controversies like fake Russian ads and fake news, the company continues to out perform
- Amazon boosted its revenue by 34% year-over-year, blowing past Wall Street targets.
- Intel beat analyst expectations in its third-quarter earnings report with revenues up 2% from the same quarter last year.
- Microsoft's fiscal first quarter earnings beat Wall Street expectation on both the top and bottom lines. Shares in the company, which reported its results after the closing bell on Thursday, inched up almost 4% to about $81.75 in after-hours trading.
A warning about a rising cost
- Revenue: $27.77 billion vs. $27.2 billion expected (up 24% year-over-year)
- EPS (GAAP): $9.57 vs. $8.34 expected
- Traffic acquisition costs, which Google pays to partners, was up for the quarter with $3.1 billion spent versus $2.62 billion last year.
- Cost-per-click on Google properties was down 21% from the year-ago quarter.
- Operating loss for Other Bets, which includes other Alphabet companies like X, Nest, and Waymo, was $812 million.
- Google's Other revenues, which includes hardware and cloud services, was $3.4 billion, up from $2.43 billion a year ago.
- Headcount was up to 78,101, versus 69,953 for the same quarter last year.