Alphabet's third-quarter sales reached $88 billion, with a 15% year-over-year growth, indicating strong advertising and cloud revenue performance, despite concerns around its search business.
Management highlighted that Google Search advertising actually grew by 12% year-over-year, countering perceptions of disruption, with AI Overviews enhancing user engagement and ad performance.
The firm's EBIT margins improved by 450 basis points to 32%, showcasing enhanced profitability alongside continued investments in artificial intelligence, even amidst antitrust concerns.
The ongoing antitrust cases pose significant challenges, particularly the one against Google Search, with expectations for a DOJ recommendation by the end of 2024.
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