Asian-News.net is your go-to online destination for comprehensive coverage of major news across Asia. From politics and business to culture and technology, we bring you the latest updates, deep analyses, and critical insights from every corner of the continent. Featuring exclusive interviews, high-quality photos, and engaging videos, we keep you informed on the breaking news and significant events shaping Asia. Stay connected with us to get a 24/7 update on the most important stories and trends. Our daily updates ensure that you never miss a beat on the happenings in Asia's diverse nations. Whether it's a political shift in China, economic development in India, technological advancements in Japan, or cultural events in Southeast Asia, Asian-News.net has it covered. Dive into the world of Asian news with us and stay ahead in understanding this dynamic and vibrant region.

Contacts

  • Owner: SNOWLAND s.r.o.
  • Registration certificate 06691200
  • 16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
  • Czech Republic

Alphabet shares rise on earnings beats boosted by cloud revenue

Google parent Alphabet reported third-quarter earnings that beat on top and bottom lines with strong revenue growth from the company's cloud unit.

The company's shares rose as much as 6% in after-hours trading.

Here are the results:

Here are other numbers Wall Street was watching:

Alphabet's revenue grew 15% year over year, which is stronger than the same quarter last year.

The company reported blowout cloud revenue at $11.35 billion, up nearly 35% from the $8.41 billion a year ago. The company attributed its strong cloud results to its artificial intelligence offerings, which include subscriptions for enterprise customers.

Alphabet CEO Sundar Pichai opened his call with investors saying the company's "full stack" of AI products is now operating at scale and being used by Google's billions of users and "creating a virtuous cycle."

The search company's strong quarter kicks off a big week of earnings for tech's megacap companies. Meta and Microsoft report on Wednesday, followed by Apple and Amazon on Thursday.

Alphabet's net income increased to $26.3 billion, or $2.12 per share, compared to $19.7 billion, or $1.55 per share, in the year-ago quarter.

Google's search business generated $49.4 billion in revenue. That was up 12.3% from a year ago, and the search business remains the largest contributor to revenue growth for the company, said Alphabet Chief Financial Officer Anat Ashkenazi on the call.

Alphabet plans to build on existing cost-cutting efforts around using AI to streamline workflow and manage headcount and the company's physical footprint, Ashkenazi said.

"I plan to build on these efforts but also evaluate where we might be able to accelerate work and where we might need to pivot to free up capital for more attractive

Read more on cnbc.com
DMCA