Alphabet's Q3 revenue at $46.2B, up by 14% YoY

Thursday, 29. October 2020 21:03

Alphabet Inc. announced on Thursday its revenue in the third quarter of 2020 stood at $46.2 billion, which marks an increase of 14% compared to the same period last year. The tech giant's net income landed at $11.25 billion, rising by 59.1% since the third trimester of 2019, while its diluted earnings per share went up by 62% from $10.12 to $16.40 year-on-year.

"We had a strong quarter, consistent with the broader online environment. It's also a testament to the deep investments we've made in AI [artificial intelligence] and other technologies, to deliver services that people turn to for help, in moments big and small," Chief Executive Officer (CEO) of Alphabet and Google Sundar Pichai said.

After the release of the report, Alphabet's shares went up by 9.84% in the after-hours trading.

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Author:
Breaking the News / JR