Alphabet Q3 results show 20% growth in revenue

Alphabet released its Q3 earnings report and the results show steady growth across the board. Revenues, in particular, have grown by 20% year over year and reached $40.5 billion.

As usual, the majority of revenues stemmed from advertising which brought in $33.92 billion. Google’s other product categories which include hardware and cloud products brought in $6.43 billion for the period. Operating income is also growing at 23% and topped $9.1 billion.

I am extremely pleased with the progress we made across the board in the third quarter, from our recent advancements in search and quantum computing to our strong revenue growth driven by mobile search, YouTube and Cloud. - Sundar Pichai

The company’s “other bets” which includes projects like Waymo, Verily and Google Fiber saw combined revenues of $155 million and an operating loss of $941 million. Going forward Alphabet is looking to continue its investment efforts into Cloud and machine learning and expects solid returns from its corporate cloud solutions.

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