Alphabet Posts Q3 EPS of $27.99 on Revenue of $65.1 Billion, vs. Street Consensus of $23.25/Share on Revenue of $63.3 Billion ...
I believe operating margin came in at 32%
* see below, for a different consensus EPS value expected
GOOG / GOOGL -- Oct 26 (Reuters) - Google owner Alphabet Inc (GOOG) on Tuesday beat expectations for third-quarter revenue, a positive sign that its advertising business is overcoming new limits on tracking mobile users and sending its shares up slightly.
Through its search engine, YouTube video service and partnerships across the Web, Google sells more internet ads than any other company. Demand for its services surged in the past year as the pandemic forced people to spend more time online, and their new habits are not tapering off.
Google advertising revenue rose to $53.1 billion during the third quarter. Alphabet's overall sales jumped to $65.1 billion, above the average estimate of $63.336 billion among analysts tracked by Refinitiv.
Quarterly profit was $27.99 per share, beating expectations of $24.08 per share. Alphabet's profit is subject to wide fluctuations because accounting rules require the company to measure unrealized gains from its investments in startups as income.
Consumer anxiety over how Google and other companies use their browsing behavior to profile them and then pick which ads to show has become widespread. In the latest challenge, Apple Inc(AAPL), whose iPhones account for half of the smartphones in the United States, gave its users more control to stop tracking over the past few months. The change led advertisers to recalibrate their spending in ways that Google rivals Snap Inc(SNAP) and Facebook Inc(FB) said hurt their third-quarter sales.
Google may have been less affected because its search engine collects data on user interests that is valuable to advertisers and unmatched in the industry.
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Alphabet Inc(GOOG): via Oct 26 (Reuters)
* QTRLY REVENUE $65,118 MILLION VERSUS $46,173 MILLION REPORTED LAST YEAR
* QTRLY EARNINGS PER SHARE $27.99
* Q3 EARNINGS PER SHARE VIEW $23.48, REVENUE VIEW $63.34 BILLION -- REFINITIV IBES DATA
* IN JANUARY 2021, WE COMPLETED AN ASSESSMENT OF THE USEFUL LIVES OF OUR SERVERS AND NETWORK EQUIPMENT
* QTRLY GOOGLE ADVERTISING REVENUE $53,130 MILLION VERSUS $37,095 MILLION
* QTRLY OPERATING MARGIN 32% VERSUS 24%
* QTRLY OTHER BETS REVENUE $182 MILLION VERSUS $178 MILLION
* EFFECT OF ADJUSTMENT IN ESTIMATED USEFUL LIFE OF SERVERS WAS INCREASE IN QTRLY NET INCOME OF $460 MILLION
* ALPHABET - CHANGE IN ACCOUNTING ESTIMATE FOR 3 & 9 MONTHS ENDED SEPT. 30, RESPECTIVELY LED TO REDUCTION IN DEPRECIATION EXPENSE OF $591 MILLION & $2.1 BILLION
* QTRLY GOOGLE CLOUD REVENUE $4,990 MILLION VERSUS $3,444 MILLION
* QTRLY YOUTUBE ADS REVENUE $7,205 MILLION VERSUS $5,037 MILLION
* QTRLY GOOGLE CLOUD OPERATING LOSS OF $644 MILLION VERSUS LOSS OF $1,208 MILLION Source text: (https://bit.ly/3CjOcQe) Further company coverage: |
