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    • Alphabet Earnings: Stock Rises as Cloud Growth Beats Estimates
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    Alphabet Earnings: Stock Rises as Cloud Growth Beats Estimates

    Umito Posted on

    Alphabet’s stock jumped 2.8% in the final hours of trading, after the internet search and cloud giant reported third-quarter earnings that beat expectations, helped by strong its cloud business.

    Net income increased to $26.30 billion, or $2.12 per share, from $19.69 billion, or $1.55 per share, in the same period last year. The FactSet consensus forecast EPS of $1.84.

    Revenue rose 15.1% to $88.27 billion, well above the FactSet consensus of $86.39 billion.

    Advertising revenue rose 10.4% to $65.85 billion, above the FactSet consensus of $65.36 billion, while cloud revenue climbed 35% to $11.35 billion , exceeding expectations of $10.88 billion.

    The closed the ordinary session up 1.8%, at its highest level in three months.

    Umito
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