Alphabet (GOOG, Financial)(GOOGL, Financial) on Thursday evening reported a 24% increase in revenue year over year, up from a 20% leap in the same periods last year, with growth across all segments.
"We had a terrific quarter, with revenues up 24% year on year, reflecting strength across Google and Other Bets," said Ruth Porat, CFO of Alphabet. "Our momentum is a result of investments over many years in fantastic people, products and partnerships."
Alphabet also generated net income of $6.73 billion, compared to $5.06 billion in the third quarter 2016, with EPS of $9.57, compared to $7.25 for the same periods. Operating margins ticked up to 28% from 26%.
Shares of Google jumped 3.29% in after-hours trading to $1,024 each, climbing from $991.42 at trading day end. Year to date, the company’s shares advanced 25.1%.
The tech giant saw its number of paid clicks grow 47%, with cost-per-click drooping 18% year over year. Total traffic acquisition costs rose to $5.5 billion from $4.18 billion.
Alphabet joins Amazon (AMZN, Financial) as a big after-house mover, as the company reported higher-than-expected third quarter earnings. Shares of the online retail powerhouse popped 7.46% to $1,045 per share. The S&P 500 gained 0.17% after hours.
