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Tech & Science Google mother Alphabet increases profit to 11.2 billion dollars

13:00  30 october  2020
13:00  30 october  2020 Source:   t3n.de

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Google parent Alphabet Inc on Thursday returned to sales growth in the third quarter, beating analysts' estimates, as businesses initially hobbled by the coronavirus pandemic resumed advertising with the internet's biggest supplier of ads.

Alphabet reported third-quarter profit of .25 billion or .40 per share, up from last year's profit of .07 billion or .12 per share. "Total revenues of . 2 billion in the third quarter reflect broad based growth led by an increase in advertiser spend in Search and YouTube as well as continued

After the corona crisis had at times significantly burdened Google's advertising revenues, Alphabet's main source of income is now booming again. The US Internet giant increased profits and revenues in the last quarter more than expected - which is well received by investors.

Google-Zentrale in Mountain View. © Benny Marty / Shutterstock Google headquarters in Mountain View.

Booming advertising income and a strong cloud business resulted in a leap in profits at Google's parent company Alphabet in the third quarter, despite the corona pandemic. The net result shot up by almost 60 percent year-on-year to 11.2 billion US dollars (9.6 billion euros), as the Internet giant announced on Thursday after the US market closed in Mountain View. Revenues grew 14 percent to $ 46.2 billion.

Google mother Alphabet exceeds estimates - Alphabet shares in demand

 Google mother Alphabet exceeds estimates - Alphabet shares in demand The balance sheet of the IT giant Alphabet for the third quarter of 2020 at a glance. © Provided by Finanz.net SAEED KHAN / AFP / Getty Images Booming advertising revenues and a strong cloud business caused the tills to ring at the Google parent company Alphabet in the third quarter despite the corona pandemic. Net profit shot up by almost 60 percent year-on-year to $ 11.2 billion (€ 9.6 billion), as the Internet giant announced on Thursday after the US market closed in Mountain View.

Alphabet today announced Q3 2020 earnings with . 2 billion in revenue. These numbers range from July to September, and includes the continuing impact of COVID-19. Revenue is up 14% from .5 billion in Q3 2019, with operating income at $ 11 . 2 billion and net income also at

Google parent Alphabet Inc posted a surge in profit and revenue on Thursday as its A Google search page is seen through a magnifying glass in this photo illustration taken in Berlin, August 11, 2015. Alphabet ’s profit beat Wall Street estimates and rose 29 percent to .43 billion , a

After a setback in the previous quarter, Google's advertising business - Alphabet's main source of income - was up and running again and contributed the largest share of sales with 37.1 billion dollars. In addition, the advertising revenues of the video subsidiary Youtube and the cloud business with IT services and storage space on the Internet also flourished. The results clearly exceeded expectations, and the share reacted after the hours with a price jump of over seven percent.


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Strong quarter for Alphabet

"We had a strong quarter," said CEO Sundar Pichai. The day before, he had to justify himself in addition to his Facebook and Twitter counterparts Mark Zuckerberg and Jack Dorsey in the US Senate. A few days before the US election, representatives of President Donald Trump's Republican Party accused “Big Tech” managers of suppressing conservative views on their platforms and threatened them with stricter laws.

Last week, the US Department of Justice filed a long-awaited competition lawsuit accusing Google of illegally exploiting its market power in Internet search and related advertising. The quarterly figures underline this dominance once again. But Alphabet also delivered brilliant numbers in almost every business area. Even bets on future technologies such as self-driving cars, which are accounted for as “other bets”, posted a considerable increase in sales. dpa

T-Mobile US raises forecast significantly .
The Deutsche Telekom subsidiary T-Mobile US continues to defy the corona crisis after taking over smaller rival Sprint. After the third quarter, T-Mobile US boss Mike Sievert raised the targets for operating profit and customer growth, which Deutsche Telekom had often followed suit in the past. © Christoph Dernbach / dpa The cell phone provider T-Mobile US advertises in New York.

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