Google parent Alphabet reported third-quarter earnings that beat estimates, but cloud revenue growth disappointed, sending shares lower. YouTube revenue rose 12% to $7.95 billion, beating forecasts.
Alphabet earnings RSS
Revenues for Alphabet were up 7 percent in the second quarter compared to a year ago, and net income came in at $18.368 billion for the quarter. Revenues were up in Search, Cloud, and YouTube.
Revenues were $69.79 billion for the quarter for Alphabet, as it had to deal with one-time charges relating to layoffs and reduction of its office space, but its cloud business was profitable.
Google's parent company Alphabet today reported its Q4 2020 earnings of $56.9B in revenue. The majority came from Google, accounting for $52.8B. The fiscal year 2020 revenues stood at $182.5B.
