Google’s third-quarter results announced, revenue go up significantly to $18

For the third quarter, Alphabet, reporting Google’s earnings for a final time, said that the company saw overall revenue of $18.68 billion, and an adjusted earnings per share of $7.35, up from $6.35 during the same period in 2014.

Shares of Alphabet rose nearly 9 percent in after-hours trading to $741, easily a record. On average, 40 analysts polled by Thomson Reuters estimated earnings of $7.21 per share for the quarter. The search engine company reported a 23 percent increase in the number clicked ads, but a decrease of 11 percent in the profitability of those clicks.

Alphabet, Inc., the company once know as Google, but is now the parent company of Google the search business versus say the self-driving vehicle project (hopefully that’s clear) has reported third quarter results for Google (the division that is) and despite the corporate restructure they came in glowingly.

In January, Google’s new holding company, Alphabet, will report results for Google and the other businesses in its stable for its first full quarter of operation.

As the world’s largest digital-advertising company, Alphabet’s Google business is benefiting from surging online activity. This is Google’s first earnings report since it reorganized its operational structure earlier this year in a bid to separate its core Internet search and ad business from the myriad other ventures the company has entered over the last few years.

For its part, Android has grown from 1 billion users to more than 1.4 billion.

Google, has used it for long in the voice search and language translation operations and according to Pichai, there has been a rapid progress in this technology significantly in the last couple of years. The company plans to buy back $5.1 billion worth of stock, which sent shares of the company soaring, up over 10 percent in after-hours trading.

During an earnings call with analysts, Google CEO Sundar Pichai told investors he was confident in Google’s ability to deliver ads to people at relevant moments, adding that he anticipates mobile search ads might become “as compelling or even better than desktop”.

“We’re excited about the opportunities ahead of Google and across Alphabet”, said Ruth Porat, Alphabet and Google CFO, in a statement.

Alphabet has replaced Google Inc as the publicly-traded entity and all shares of Google have automatically converted into the same number of shares of Alphabet. And while the numbers were impressive, it seems investors are more than just happy with the new stock buyback program which the Google-parent announced. Ad revenue from the second quarter to the third quarter rose 5 percent.