Alphabet earnings beat estimates, sees boost from cloud business

Alphabet (GOOG, GOOGL), the parent company of Google, reported third quarter results that topped Wall Street estimates on both the top and bottom lines. Earnings of $2.12 per share was better than the expected $1.84. Revenue ex-traffic acquisition costs (ex-TAC) was $74.55 billion versus a Bloomberg consensus estimate of $72.88 billion. Overall revenue was $88.27 billion compared to a $86.45 billion estimate. Google Cloud revenue was $11.35 billion compared to the estimated $10.79 billion.

Market Domination Overtime anchors Julie Hyman and Josh Lipton break down the tech giant’s results.

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This post was written by Stephanie Mikulich.