Google's parent company, Alphabet, returned to sales growth in the third quarter, after companies initially affected by the Covid-19 pandemic resumed advertising with the Internet's largest provider of search and video ads. His actions soar 8% in the 'after hours' market, up to $ 1,685, after rebounding 3% during the regular session.
Specifically, as the company reported this Thursday, Alphabet's revenue increased to $ 46,170 million between July and September, compared to 40.5 billion in the same period of the previous year. In addition, the company has submitted a earnings per share of $ 16.40.
The company exceeded estimates across the board, following its first revenue drop in the second quarter. The results showed a strong rebound in its core ad revenue, which was heavily affected by setbacks in customer spending amid the Covid-19 pandemic.