Alphabet Inc (NASDAQ:GOOGL) reported earnings Thursday after market that beat analyst expectations, including revenue. Q3 earnings per share of $9.06 on $22.45 billion revenue was higher than expected $8.63 a share on $22.05 billion. This is an increase from last year where EPS was $7.35 on $18.68 billion in revenue.
The company has updated investors on its behemoth advertising business, cloud, internet, and phones. Sergrey Brin and Larry Page, founders of Google have changed its corporate structure and named Sundar Pichai as head of google. “Smaller bets in areas that might seem very speculative or even strange when compared to Google’s current businesses.”
Google trails behind Facebook at 2nd place in 2016 display ad revenue globally. Almost 60 percent of the company’s net global ad revenues hail from mobile internet ads for 2016, which is a 45.8 percent increase from 2015. New devices like the google pixel smartphone were introduced.
“The new devices are not only aimed at diversifying google revenues but also at enriching google’s advertising targeting capabilities as consumers engage and share information with Pixel, google assistant, daydream view, chromecast and other google ecosystem devices,” said forecasting analyst Martin Utreras from eMarketer.