Google parent Alphabet beats quarterly revenue estimates

:Alphabet topped third-quarter revenue expectations on Tuesday, helped by steady growth in its digital advertising business and an AI-driven jump in demand for its cloud services.

Shares of the company rose 3 per cent in extended trading.

Digital advertising sales - the biggest chunk of Alphabet's total revenue - rose to $65.85 billion from $59.65 billion.

Revenue from Google's cloud platform grew to $11.35 billion, beating analysts' estimate of $10.86 billion.

Alphabet reported a profit of $2.12 per share. Analysts were expecting per-share earnings of $1.85.

Revenue increased 15 per cent to $88.27 billion in the July-September period, while analysts on average expected $86.30 billion, according to LSEG data.

Sign up for our newsletters

Get our pick of top stories and thought-provoking articles in your inbox

Subscribe here

Get the CNA app

Stay updated with notifications for breaking news and our best stories

Download here

Get WhatsApp alerts

Join our channel for the top reads for the day on your preferred chat app

Join here