MOUNTAIN VIEW, Calif. – MOUNTAIN VIEW, Calif. (AP) _ Alphabet Inc. (GOOGL) on Thursday reported third-quarter net income of $5.06 billion.
On a per-share basis, the Mountain View, California-based company said it had net income of $7.25. Earnings, adjusted for stock option expense, were $9.06 per share.
The results topped Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $8.58 per share.
The Internet search leader posted revenue of $22.45 billion in the period. After subtracting Alphabet’s advertising commissions, revenue was $18.27 billion, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $17.91 billion.
Alphabet shares have risen 5 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 4 per cent. In the final minutes of trading on Thursday, shares hit $817.35, an increase of 12 per cent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GOOGL at https://www.zacks.com/ap/GOOGL
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Keywords: Alphabet, Earnings Report, Priority Earnings
