Google parent Alphabet said Thursday its third-quarter profit rose 36 percent to $9.2 billion, fueled by gains in digital advertising delivered online and on smartphones. Profits were better than expected for the US technology giant, while revenues fell short of forecasts, rising 21 percent to $33.7 billion in the three months ending in September, compared with the same period a year earlier.
The mixed results come with Google under scrutiny along with other tech firms for its privacy and data protection policies, and new revelations on the company's handling of sex harassment claims. "Our business continues to have strong momentum globally, led by mobile search and our many products that help billions of people every day," said chief financial officer Ruth Porat.
In after-hours trade following the report, Alphabet shares slid 4.8 percent on apparent disappointment with revenue growth. "Alphabet is the ad revenue king, so any softness makes people nervous," said independent technology analyst Rob Enderle. The vast majority of revenue for Alphabet came from Google and more than $28 billion came from digital advertising, where it leads the market.
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