SAN FRANCISCO (AP) – Google’s third-quarter report is getting an “A” from investors as it enters a new era under Alphabet, its new parent company.
A third-quarter report released Thursday indicated that Google is making significant strides in the increasingly important mobile market, with its earnings surging 45 percent to nearly $4 billion, or $5.73 per share.
The gains also reflected the financial discipline that has been imposed by Google’s recently hired chief financial officer, Ruth Porat: The company’s operating expenses rose at slightly slower pace than revenue.
Google’s revenue for the three months ending in September totaled $18.7 billion. After subtracting ad commissions, revenue totaled $15.1 billion, a 15 percent increase from last year.
Both the earnings and revenue topped the analysts’ projections that steer investors’ expectations.