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Alphabet (GOOGL) earnings Q3 2020


Alphabet CEO Sundar Pichai gestures during a session at the World Economic Forum annual meeting in Davos.Fabrice Coffrini | AFP | Getty ImagesGoogle parent company Alphabet’s stock rose more than 9% as it crushed expectations for both earnings and revenue.Here are the results.Earnings per share:¬†$16.40 vs $11.29 expected, according to Refinitiv estimatesRevenue: $46.17 billion vs $42.90¬†billion expected, according to Refinitiv estimatesGoogle Cloud: $3.44 billion vs. $3.32 billion estimated according to StreetAccount.YouTube ads: $5.04 billion vs. $4.39 billion estimated, according to StreetAccount.Traffic acquisition costs (TAC): $8.17 billion vs. $7.66 billion according to StreetAccount.The company beat estimates across the board, following its first-ever revenue decline in Q2, Alphabet will show whether there’s been any rebound in its core advertising revenue, which was hit hard by customer spending pullbacks amid the Covid-19 pandemic.For the quarter ending September 30, the company brought in advertising revenue of $37.10 billion, compared to $33.80 billion a year ago.This is breaking news. Please check back for updates.Correction: YouTube advertising revenues were $5.04 billion for the quarter, and TAC was $8.17 billion.

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