From CNET: Google on Tuesday posted another big jump in quarterly profit buoyed by sales at the search and advertising businesses, the same businesses that have attracted antitrust attention.
Alphabet, the company that owns Google, posted a third-quarter profit of $18.94 billion, or $27.99 per share, up almost 70% from $11.25 billion, or $16.40 per share, a year earlier. Revenue rose 41% to $65.12 billion. Both figures beat beat analysts' estimates of $23.47 in earnings per share and $63.45 billion in revenue, according to Yahoo.
"Search is the heart of what we do," Alphabet CEO Sundar Pichai said on a call with analysts after the results' release. For the quarter, revenue at that business jumped 44% to $37.93 billion.
The strong performance comes even as Google faces continued government and regulatory scrutiny. The company currently faces several major antitrust lawsuits, including a landmark case by the US Department of Justice and two complaints from bipartisan coalitions of states. Regulators and prosecutors are investigating everything from Google's app store to broader business practices around its Android operating system, which continues to reign as the most dominant mobile software platform in the world.
View: Full Article
