Better-than-expected sales for Alphabet

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Better-than-expected sales for Alphabet
Photo: Thibault Camus/AP/TT

Alphabet, the parent company of the American search giant Google, reports third-quarter revenue that exceeds analysts' forecasts.

Sales amounted to $102.4 billion, equivalent to 965 billion kronor, compared with an expected $99.9 billion. For Alphabet's cloud service, Google Cloud, sales amounted to $15.5 billion, also more than the market had predicted, CNBC reports.

Earnings per share were significantly higher than expected: $2.87 versus the expected $2.26, writes the Bloomberg news agency.

Alphabet's investments during the year, primarily in artificial intelligence, amount to $91-93 billion, according to the company's interim report. This compares with a previous estimate of $85 billion.

The stock rose about 5 percent in after-hours trading on the New York Stock Exchange.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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