Alphabet Inc. reported strong third-quarter earnings, exceeding expectations with $2.12 earnings per share and $88.27 billion in revenue, driven notably by Google Cloud's robust growth.
Sundar Pichai highlighted that Google Cloud's comprehensive 'full stack' of AI services is extensively operational and benefiting billions globally, fostering a 'virtuous cycle' of enhancement.
With a significant increase in net income to $26.3 billion from $19.7 billion year-on-year, Alphabet exemplifies solid financial health and effective growth strategies.
CFO Anat Ashkenazi indicated that Google Search remains the largest revenue source with $49.4 billion in sales, showcasing a 12.3% increase, underscoring its central role in Alphabet's earnings.
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