Resilient advertising revenues at Alphabet, Google’s parent company, led to sales exceeding expectations in Q3.
- However, the cloud computing division’s performance disappointed investors:
- Google’s Cloud division narrowly missed sales forecasts, showing a 22% increase to $8.4 billion, falling short of the expected 26% rise.
- Operating income in the Cloud division was lower than in the previous quarter.
- This led to a 6% drop in Alphabet’s shares during after-hours trading in New York.
- Overall, Alphabet’s Q3 revenue exceeded expectations, with an 11% increase to $76.7 billion.
- Earnings per share also outperformed forecasts, surging by 46% to $1.55.
