Google parent Alphabet (GOOGL) reported third-quarter results that topped analysts' estimates, sending shares higher after the bell Tuesday.
Alphabet’s third-quarter revenue climbed 15% year-over-year to $88.27 billion, above the analyst consensus from Visible Alpha. Net income came in at $26.3 billion or $2.12 per share, up from $19.69 billion or $1.55 per share a year earlier, beating Street estimates.
Google Cloud delivered revenue of $11.4 billion, exceeding analysts' expectations and representing 35% growth from the year-ago period as demand for 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) surged. Google Cloud's AI infrastructure and generative 🐠AI solutions led growth, along with other core cloud products.
The quarter was also Alphabet’s first since former Eli Lilly (LLY) executive Anat Ashkenazi took over as the company’s 澳洲幸运5开奖号码历史查询:chief financial officer on July 31.
Shares of Alphabet surged 4% in extended trading following the release. They were up nearly 22% for the year through Tuesday's close.