Alphabet Inc. (NASDAQ: GOOG/GOOGL), the parent of Google, reported third-quarter 2020 results Thursday. Both earnings and revenues increased and came in above experts’ projection. Shares of the internet search giant gained during the extended trading session, soon after the announcement.
Total revenues rose 14% year-over-year to $46.17 billion in the third quarter and beat the estimates. Google advertising revenue increased10%, while Search & Other revenue was up 6%.
Read management/analysts’ comments on Alphabet’s Q3 2020 results
Reflecting the strong top-line performance, net income moved up to $11.2 billion or $16.4 per share in the September-quarter from $7.01 billion or $10.12 per share a year earlier. For the most recent quarter, analysts were looking for a lower number.
Alphabet’s stock made strong gains on Thursday evening, after closing the regular trading session higher.