Alphabet Inc. (NASDAQ: GOOGL, GOOG) reported 41% growth in third-quarter revenues, aided by the continued strength of its search advertising business. The results also topped the Street view.
The company, which owns internet search platform Google, reported a 41% growth in revenues to $65.12 billion for the third quarter of 2021. Revenue from Google, the largest segment, increased by 40%, with most of it coming from advertising. The top-line also exceeded Wall Street’s projection.
Net income rose sharply to $18.9 billion or $27.99 per share during the three-month period from $11.2 billion or $16.4 per share in the third quarter of 2020, and topped the market’s expectations.
Shares of Alphabet have gained around 20% in the past six months. The stock closed Tuesday’s regular trading higher but dropped in the after-hours, following the earnings announcement.
Gaming company Take-Two Interactive Software, Inc. (NASDAQ: TTWO) announced fourth-quarter 2022 results Monday after the closing bell, reporting an 11% revenue growth. Fourth-quarter revenues rose to $930.0 million from $839.4
Shares of Pinterest Inc. (NYSE: PINS) stayed in green territory on Monday. The stock has dropped 40% year-to-date and 62% in the past 12 months. There is a mixed sentiment
Food companies have performed better than most other sectors during the pandemic as government restrictions forced people to cook at home. Investors, in general, find the stocks of such companies