Alphabet Inc. announced on Wednesday that its revenue for the third quarter of fiscal 2025 rose by 16% year-over-year, reaching $102.3 billion to beat analysts' expectations.
The industry behemoth's net income went up 33% to $34.9 billion in the same period, while diluted earnings per share (EPS) stood at $2.87, up 35% from $2.12 seen a year ago. The report singled out Google Cloud revenues, which jumped 34% annually to $15.2 billion, led by growth in Google Cloud Platform (GCP) across core products, AI Infrastructure, and Generative AI Solutions.
"Alphabet had a terrific quarter, with double-digit growth across every major part of our business. We delivered our first-ever $100 billion quarter," Alphabet CEO Sundar Pichai remarked in the release. He praised Google's Gemini models, which now process 7 billion tokens per minute and power an app with over 650 million monthly users.
Alphabet's Class A shares jumped 5.53% in after-hours trade to go for $289.58 at 4:17 pm ET, while Class C increased 6.11% to $291.48 a minute later.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.