SAN JOSE, Calif. _ Google's parent company Alphabet on Thursday beat Wall Street's expectations for the year's third quarter, pulling in $22.5 billion in revenue, the firm reported.
Analysts had predicted $22.1 billion in revenue. Alphabet also exceeded per-share earnings expectations with $9.06 gained, compared to analysts' forecasts of $8.63.
Alphabet's quarterly revenue represented a 20 percent jump over the third quarter of 2015, and a $1 billion increase from the second quarter of this year. Third-quarter profit was $5.1 billion, up more than 25 percent from the $4 billion of last year's third quarter, and also up from $4.88 billion in the second quarter of 2016.
The company's "other bets," which include projects such as self-driving cars and balloon-delivered internet service, brought in slightly more revenue than in the previous quarter, at $197 million compared to $185 million. However, losses from other bets were greater than in the previous quarter, rising to $865 million from $859 million.
Alphabet also continued to ramp up hiring, bringing on 3.378 new workers for the quarter, compared to 2,460 in the previous quarter and 2,828 in 2015's third quarter.
