Google Q3 was the best performance in the financial report of the five giants, and its share price soared 8% higher than expected


Google’s parent company, alphabet, saw a rebound in revenue as advertising sales soared in the third quarter. This data shows that the advertising sales business impacted by the new crown epidemic in the second quarter is gradually recovering.
Mountain view, Calif. – based alphabet said late Thursday that total revenue for the three months to September rose 14% from a year earlier to $46.1 billion. In the second quarter, revenue fell 2%, the first time since Google went public. Google’s advertising revenue in the third quarter was $37.1 billion, up 9.7% from the same period last year. In the third quarter, YouTube’s advertising revenue grew by 31% compared with last year, while Google search’s advertising grew by 6%.
Alphabet’s shares surged more than 8% in after hours trading, Beating Wall Street’s expectations. Earlier, some analysts expected alphabet’s revenue to grow by only 5.9% this quarter, with earnings per share of $11.21. Alphabet’s net profit was $11.25 billion, or $16.40 a share.
On non advertising revenue, alphabet’s chief executive, Sundar Pichai, said the company was “very bullish” about Google cloud, Google play and Youtube subscriptions. Alphabet doesn’t regularly disclose the details of these business categories, but picchay said YouTube currently has more than 30 million paid music and premium members and more than 3 million full paid members, up from 20 million and 2 million respectively disclosed in the fourth quarter of last year.
Starting from the next quarter, alphabet will summarize the cloud business as a separate reporting category, Mr Pi said. Ruth Porat, chief financial officer of alphabet, said it would also include operating revenue from cloud computing in 2018.
“We are proud that people choose Google search, not because they have to do it, but because Google search is worth it,” Mr. Pichai said of the antitrust lawsuit with the Department of justice