Alphabet reports Q3 revenue with 11 pct growth

SAN FRANCISCO, Oct. 24 (Xinhua) -- Alphabet Inc., Google's parent company, on Tuesday reported its third-quarter revenue at 76.69 billion U.S. dollars, up 11 percent from the same period one year ago.

Announcing its financial results for the quarter ending Sept. 30, 2023, the company said its net income was 19.69 billion dollars, compared with 13.91 billion dollars in the same period of 2022. Its diluted earnings per share were 1.55 dollars from 1.06 dollars a year ago.

Among the entire quarterly revenue of 76.69 billion dollars, a total of 67.99 billion dollars came from Google Services total including YouTube advertising, according to the company's financial report.

The quarterly report also showed that Google Cloud sales grew to 8.41 billion dollars from 6.87 billion dollars in the same period of 2022.

"I'm pleased with our financial results and our product momentum this quarter, with AI driven innovations across Search, YouTube, Cloud, our Pixel devices and more. We're continuing to focus on making AI more helpful for everyone," said Sundar Pichai, CEO of Alphabet and Google.

"The fundamental strength of our business was apparent again in Q3, with 77 billion U.S. dollars in revenue, up 11 percent year over year, driven by meaningful growth in Search and YouTube, and momentum in Cloud. We continue to focus on judicious capital allocation to deliver sustainable financial value," said President and Chief Investment Officer of Alphabet Ruth Porat.