Alphabet Q3 Revenue Hits Historic USD102.3B
(MENAFN) Alphabet Inc., the tech giant behind Google, unveiled explosive third-quarter financial results Wednesday, posting consolidated revenues that hit an all-time high of $102.3 billion—marking a 16 percent climb compared to the year-ago period.
The corporation's bottom line showed even more dramatic momentum, with net income skyrocketing to $34.98 billion for the quarter, representing a 33 percent year-over-year leap.
Google Services drove substantial growth, pulling in $87.1 billion in total revenues—a 14 percent escalation fueled by strong showings across Google Search, subscription offerings, platform operations, hardware devices, and YouTube advertising streams.
The cloud computing division delivered particularly striking performance, with Google Cloud revenues jumping 34 percent to reach $15.2 billion. The expansion was powered by accelerated adoption of Google Cloud Platform core offerings, AI infrastructure capabilities, and generative AI technologies.
The company disclosed it now serves over 300 million paid subscribers across its ecosystem, predominantly through Google One and YouTube Premium, while its Gemini App has attracted over 650 million monthly active users.
"Alphabet had a terrific quarter, with double-digit growth across every major part of our business," said Sundar Pichai, CEO of Alphabet and Google. "Our full stack approach to AI is delivering strong momentum and we're shipping at speed ... we are investing to meet customer demand and capitalize on the growing opportunities across the company."
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