Alphabet Reports Another Strong Quarter

Alphabet, the parent of Google, reported a 24% year-on-year increase in revenues for the third quarter to 27.77 billion US dollars. "Our culture of innovation is building our non-advertising revenue streams in cloud, play and hardware," said Ruth Porat, CFO of Alphabet, on a conference call with analysts. "Earlier this month, for example, we launched our expanded line of hardware products, bringing the best AI software and hardware together and building on the first generation of Made by Google products we introduced last year. Longer-term, we remain excited about the opportunities in our Other Bets with ongoing progress."

source: Google statement