Google parent Alphabet rode continued momentum in digital advertising in the third quarter, reporting total revenue of $53.6 billion in the quarter, not counting traffic acquisition costs.
Earnings per share came in at $27.99, far ahead of analysts’ consensus expectation of $23.50 and up 71% from a year ago. The revenue figure cleared Wall Street’s bar by $1 billion. When not adjusting for traffic costs, revenue shot up 41% to $65.1 billion.
YouTube ad revenue jumped 43% from the year-earlier period, reaching $7.2 billion. Search revenue climbed 44% to $37.9 billion.
The earnings release comes in the midst of a series of quarterly financial disclosures from major tech players. Netflix got things started last week, while Twitter is reporting today and Amazon and Apple are due up on Thursday.
Alphabet is approaching a market value of $2 trillion, with its shares reaching an all-time high of $2,936 over the summer. The stock closed today at $2,793.44, up a fraction. It has risen 57% in 2021 to date,...
Earnings per share came in at $27.99, far ahead of analysts’ consensus expectation of $23.50 and up 71% from a year ago. The revenue figure cleared Wall Street’s bar by $1 billion. When not adjusting for traffic costs, revenue shot up 41% to $65.1 billion.
YouTube ad revenue jumped 43% from the year-earlier period, reaching $7.2 billion. Search revenue climbed 44% to $37.9 billion.
The earnings release comes in the midst of a series of quarterly financial disclosures from major tech players. Netflix got things started last week, while Twitter is reporting today and Amazon and Apple are due up on Thursday.
Alphabet is approaching a market value of $2 trillion, with its shares reaching an all-time high of $2,936 over the summer. The stock closed today at $2,793.44, up a fraction. It has risen 57% in 2021 to date,...
- 10/26/2021
- by Dade Hayes
- Deadline Film + TV
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