Google’s third-quarter results announced, revenue go up significantly to $18.68 billion
Googleâ€™s third quarter earnings have gone up significantly. To be true, it is now Alphabet, Google’s holding company. The change of name seems to have worked rather very well for the tech giant.
Revenue from mobile search has gone up significantly. The other thing that has clicked well for the company recently is its programmatic advertising programs and YouTube.
The company made the announcement yesterday. While announcing the financial results for its third quarter ended Sept. 30, 2015, Google said that its consolidated revenue this quarter was $18.68 billion. This is around fifteen percent higher compared to the same quarter last year.
In the same quarter in the year 2014, the search giant had announced consolidated revenue of $16.52 billion. Meanwhile the net income this quarter also rose significantly. The third quarter net income this year was $3.98 billion from the $2.74 billion the company announced last year.
The company seems to be in great shape and the way it is finding new avenues for making money seem to have amazed many of its critics. The company also said that revenue and earnings per share of $7.35 were higher than Wall Street expectations of $18.53 billion and $7.21. the better than expected results have sent sending Google’s stock soaring by more than 10 percent in after-market trading.
The company also made another announcement. It said that the company was planning to repurchase about $5 billion worth of its Class C stock starting in the fourth quarter of this year. This is Google’s first earnings report since it reorganized its operational structure earlier this year in a bid to separate its core Internet search and ad business from the myriad other ventures the company has entered over the last few years.
google revenue 2015 q3