Alphabet Posts Strong Q3 Earnings on Robust Search, YouTube Ad Spend

24 Oct 2023

Google-parent Alphabet reported better-than-expected Q3 earnings buoyed by resilient ad spend for Google Search and an uptick in ad revenue for YouTube. Alphabet's third-quarter net income was $19.7 billion, or $1.55 per share, up 46% from the prior-year quarter. While Google is playing catch up with its AI efforts, concerns loom as it faces one of the largest antitrust trials in more than 20 years.