(CercleFinance.com) – Alphabet, the parent company of Google, published a turnover of $69 billion for the 3rd quarter, a figure up 6% compared to the same period a year earlier ( or +11% at constant exchange rates).
Cloud activity in particular increased by 38% to reach $6.8 billion, while Google Search remains the main activity with quarterly sales of $39.5 billion, up 4%.
On the other hand, EBIT came out at $17.1 billion compared to $21 billion twelve months earlier, and net profit fell by 26%, dropping from $18.9 billion to $13.9 billion in the space of a year. Consequently, quarterly EPS stands at $1.06 compared to $1.4 in the 3rd quarter of 2021.
For Ruth Porat, CFO of Alphabet and Google, ‘the third quarter financial results reflect healthy growth in the Google Search and Google Cloud businesses, despite the unfavorable impact of exchange rates. We are working to realign our resources to target our growth priorities.
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