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10/28/2019, 9:05 PM (Source: TeleTrader)
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Alphabet posts Q3 revenue at $40.5B, up 20% YoY

Google LLC's parent company Alphabet Inc. announced on Monday its revenue stood at $40.5 billion in the third quarter of 2019, rising 20% on an annual basis. Operating income was 6% higher at $9.2 billion while operating margin fell 3 percentage points to 23%. Net income fell by 23%, from $9.2 billion to $7.1 billion. Earnings per share were down 23% to $10.12, bellow analyst expectations.

Advertising revenues jumped 17% to $33.9 billion compared to the third quarter last year. Other revenue, which includes the company's Pixel phones and cloud products, was also higher, increasing 39% to $6.4 billion. Paid clicks on Google properties were 18% higher year-on-year, while the cost-per-click fell 2% for the same period.

"I am extremely pleased with the progress we made across the board in the third quarter, from our recent advancements in search and quantum computing to our strong revenue growth driven by mobile search, YouTube and Cloud," chief executive Sundar Pichai said, adding the company is "focused on providing the most helpful services to its users and partners."

The tech giant's shares were down 2.07% in the after-hours trading.

Breaking the News / MD