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GOOGL-ALPHABET INC

Alphabet Reports Strong Q3 Earnings Boosted by AI and Cloud Growth, Surpassing Expectations

Monday

11 November, 2024

Alphabet's Q3 earnings reveal a robust 15% revenue growth, driven by a booming Google Cloud and rising AI demand. As competition intensifies, can Alphabet maintain its innovative edge and capitalize on its strong market position?

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Key Takeaways
  • Alphabet Inc. reported a significant revenue increase of 15% year-on-year, surpassing expectations with $88.27 billion in Q3.
  • Google Cloud's revenue surged by 35%, reflecting the growing demand for AI-related services.
  • YouTube's advertising revenue rose by 12%, contributing to a robust net income of $26.3 billion.
  • Analysts suggest Alphabet may be undervalued with a forward P/E ratio below 21 and a projected 16% earnings growth.
  • The company's focus on innovation and AI integration enhances its potential for sustained growth despite market competition.
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