Alphabet returns to revenue growth of 14% in Q3, net profit jumps 59%

News Broadband Global 30 OKT 2020
Alphabet returns to revenue growth of 14% in Q3, net profit jumps 59%

Google's parent company Alphabet reported a return to revenue growth in the third quarter, as the advertising market recovered from the slowdown in Q2. Revenues rose 14 percent year-on-year to USD 46.2 billion, and the operating margin improved to 14 percent from 13 percent. Net profit jumped 59 percent to USD 11.2 billion or USD 16.40 per share.

Google Search generated revenues of USD 26.3 billion, up 6.5 percent from a year earlier, and YouTube's ad revenue rose 32.4 percent to USD 5.0 billion. Traffic acquisition costs rose to a total of USD 8.2 billion from USD 7.5 billion a year earlier. 

Google Cloud contributed revenues of USD 3.4 billion, up 44.8 percent year-on-year. 

The company's 'other bets' generated an operating loss of USD 1.1 billion on revenues of USD 178 million. 

Operating cash flow totaled just over USD 17 billion, and the company invested USD 5.4 billion in capital equipment during the quarter. Google ended the period with total cash of USD 132.6 billion. 

Categories:

Internet,  Mobile

Companies:

Google,  YouTube,  Alphabet

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Global

Tags:

Hosting - cloud - data centres, Financial figures, IT - applications, Advertising services

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