Alphabet Inc., Google's parent company, saw its stock rise 5.9% in after-hours trading following a strong Q3 earnings report that beat Wall Street estimates, primarily due to its growing artificial intelligence sector.
The stock closed at $171.14 and increased to $181.22 after hours, marking a 21.73% rise year-to-date.
For Q3, Alphabet reported revenues of $88.27 billion, a 15% increase from the previous year, and earnings per share of $2.12, surpassing estimates of $1.85.
Google Cloud revenues jumped 35% year-over-year to $11.4 billion, reflecting significant growth in AI infrastructure and products.
These results precede earnings reports from rivals Meta and Microsoft on October 30, and Amazon and Apple on October 31.
The MAMAA stocks have all surged this year, driven by AI investments. In August, Google launched its advanced AI model, Gemini 1.5 Pro, which outperformed previous industry leaders.
Alphabet’s Google Ads remains its top revenue source, bringing in $65.86 billion in Q3, up 10.4% year-over-year, followed by Google Search, which generated $49.39 billion, a 10.9% increase.
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.
Ric Edelman, one of the most influential voices in personal finance, has radically revised his stance on crypto allocation. After years of cautious optimism, he now believes that digital assets deserve a far larger share in investment portfolios than ever before.
In the case involving Terraform Labs and its co-founder Do Hyeong Kwon, the defense has asked the Federal Court for the Southern District of New York to extend the deadline for pretrial filings by two weeks, pushing it beyond the original date of July 1, 2025.
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.