Alphabet today beat analyst expectations for both earnings and profit during its third quarter.
Alphabet, first announced in August as a new holding company that includes Google, reported $18.7 billion in revenue (up 13 percent year-over-year) and earnings per share of $7.35 (up 18 percent). Analysts expected earnings of $7.21 per share and revenue of $18.54 billion.
“Our Q3 results show the strength of Google’s business, particularly in mobile search. With six products now having more than 1 billion users globally, we’re excited about the opportunities ahead of Google, and across Alphabet,” Ruth Porat, CFO of Alphabet and Google, said in a statement.
Shares of Alphabet are up more than 11 percent in after-hours trading.
This is the first earnings report since Alphabet was introduced, but the holding company won’t break out its segmented financial reporting — which will separate Google’s performance (search, ads, maps, apps, YouTube, Android, etc.) from others like Google X, Calico and Life Sciences — until January’s Q4 results are announced.
Alphabet also announced today a stock repurchase of just more than $5 billion.
Longtime Google executive Sundar Pichai, who became CEO of Google with the announcement of Alphabet, is expected to speak on the earnings call for the first time today.
Google co-founder Larry Page is now the CEO of Alphabet, while Google co-founder Sergey Brin is Alphabet’s president.