Alphabet today announced Q3 2019 earnings with $40.49 billion in revenue. These numbers range from July to September, and did not entirely meet analyst expectations.
Revenue is up 20% from $33.74 billion in Q3 2018, with operating income at $9.17 billion and net income of $7.06 billion for this quarter. For comparison, Alphabet reported $38.94 billion in revenue and a $9.18 billion in net income last quarter. Currently down 2.5% in after-hours trading, Google did meet revenue expectations, but not earnings per share.
“I am extremely pleased with the progress we made across the board in the third quarter, from our recent advancements in search and quantum computing to our strong revenue growth driven by mobile search, YouTube and Cloud,” said Sundar Pichai, Chief Executive Officer of Google. “We’re focused on providing the most helpful services to our users and partners, and we see many opportunities ahead.”
“Our businesses delivered another quarter of strong performance, with revenues of $40.5 billion, up 20% versus the third quarter of 2018 and up 22% on a constant currency basis,” said Ruth Porat, Chief Financial Officer of Alphabet and Google. “We continue to invest thoughtfully in talent and infrastructure to support our growth, particularly in newer areas like Cloud and machine learning.”
“Google other revenues” — which includes hardware, Play Store, and Google Cloud enterprise efforts — reported $6.42 billion, compared to $4.6 billion the same quarter last year.
The closely-watched “Other Bets” continues to lose money, but is slowly increasing revenue. It reported $155 million revenue primarily generated by Verily and Fiber, with operating loss slightly down to $941 million from $989 million in the previous quarter.
Alphabet will hold an earnings call with investors and members of the press to further break down numbers from the Q3 2019 earnings release. You can follow along via the livestream below and we’ll have coverage of any notable tidbits the company reveals.
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