Google beats third-quarter earnings expectations on AI momentum – Yahoo! Voices
Google (GOOGL) parent Alphabet surpassed Wall Street’s expectations, reporting revenues of $88.3 billion for the third quarter.
Consolidated Alphabet revenues grew 15% year over year, the company said, “reflecting strong momentum across the business.” The tech giant reported net income increased 34%, and earnings per share, or EPS, increased 37% to $2.12. Google’s shares were up 1.66% at the market close on Tuesday, and were up 2.25% during after hours trading. The company’s stock has climbed 22.6% so far this year.
“The momentum across the company is extraordinary,” Google chief executive Sundar Pichai said in a statement. “Our commitment to innovation, as well as our long-term focus and investment in AI, are paying off with consumers and partners benefiting from our AI tools.”
Google was expected to report revenues of $86.4 billion and EPS of $1.84 for the third quarter, according to analyst estimates compiled by FactSet (FDS).
The company’s Cloud division revenues grew 35% to…
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source: https://news.oneseocompany.com/2024/10/29/google-beats-third-quarter-earnings-expectations-on-ai-momentum-yahoo-voices_2024102958788.html
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