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Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) reported financial results for the third quarter after the market close on Wednesday. Here’s a rundown of the tech giant’s report. GOOG is approaching key resistance levels. Check the analyst take here. Q3 Highlights: Google parent Alphabet posted third-quarter revenue of $102.35 billion, beating analyst estimates of $99.64 billion, according to Benzinga Pro. The company reported third-quarter earnings of $2.87 per share, beating estimates of $2.33 per share. Total revenue was up 16% on a year-over-year basis, driven by double-digit growth across all segments. Here's a breakdown of revenue by category. Google Search: $56.57 billion, up from $49.39 billion year-over-year YouTube Advertising: $10.26 billion, up from $8.92 billion year-over-year Google Cloud: $15.16 billion, up from $11.35 billion year-over-year Google Advertising: $74.18 billion, up from $65.85 billion year-over-year Alphabet ended the quarter with approximately $98.5 billion in cash, cash equivalents and marketable securities. The Google parent company said it now expects approximately $91 billion to $93 billion in capital expenditures in 2025 due to growth across the business and demand from Cloud customers. "Our full stack approach to AI is delivering strong momentum and we're shipping at speed, including the global rollout of AI Overviews and AI Mode in Search in record time. In addition to topping leaderboards, our first party models, like Gemini, now process seven billion tokens per minute, via direct API use by our customers,” said Sundar Pichai, CEO of Alphabet. Alphabet said the Gemini app now has over 650 million monthly active users. The company also noted it has a backlog of $155 billion for Google Cloud. Alphabet’s management team will further discuss the company’s quarterly results on an earnings call at 4:30 p.m. ET GOOG Price Action: Alphabet shares were up 5.08% in after-hours on Wednesday, trading at $289.14 at the time of publication, according to Benzinga Pro. Read Next: Amazon AWS Is Down Again, Microsoft Azure Too Image generated using artificial intelligence via DALL-E.
