SAN FRANCISCO (AP) — Google’s digital advertising sales growth accelerated during the summer, advancing a recent revival that helped its corporate parent Alphabet Inc. to deliver a quarterly profit that exceeded analysts' projections.
The third-quarter results released Tuesday for the July-September period included a 9% increase in Google’s ad sales from the same time last year.
Those gains were the main reason Alphabet’s total revenue rose 11% from a year ago to $76.69 billion.
The upturn was even better than the 7% year-over-year increase in revenue that Alphabet produced in the April-June period when it reversed an unprecedented drop in Google’s ad revenue after nearly 20 years of growth.
“While the traction it has among AI startups may bear fruit in the long run, it is not currently helping Google Cloud enough to satisfy investors.”The Cloud letdown appeared to take the luster off the third-quarter report for many investors.
Persons:
stoking, Sundar Pichai, ”, Max Willens, “ We’re, ” Pichai, Department’s
Organizations:
FRANCISCO, Inc, Google's, Microsoft, Google, U.S .
Locations:
, California, East, Ukraine