Google’s total ad sales climbed by 10.4% to $65.9 billion, down from 11.1% growth in the second quarter|Graham Smith|CC BY-NC-ND 2.0
Alphabet, Google’s parent company, reported a 15% increase in revenue for the third quarter yesterday, totaling $88.3 billion.
The growth was mainly due to its cloud division, which brought in $11.4 billion, a 35% rise from last year.
However, Google’s search engine and YouTube platform experienced slowing revenue growth, raising concerns about the future of its advertising business.
Total ad sales climbed by 10.4% to $65.9 billion, down from 11.1% growth in the second quarter.
The company’s net income also grew significantly, rising 33.6% to $26.3 billion.
Despite facing challenges, such as competition in the ad market and ongoing antitrust issues, Alphabet’s stock gained about 5% in after-hours trading following the positive earnings report.