Alphabet Inc (NASDAQ: GOOG/GOOGL) Q3 2020 earnings call dated Oct. 29, 2020

Alphabet Inc. (NASDAQ: GOOG/GOOGL), the parent of Google, reported third-quarter 2020 results Thursday. Both earnings and revenues increased and came in above experts’ projection. Shares of the internet search giant gained during the extended trading session, soon after the announcement. Total revenues rose 14% year-over-year to $46.17 billion in the third quarter and beat the estimates. Google advertising revenue increased10%, while Search & Other revenue was up 6%. Reflecting the strong top-line performance, net income moved up to $11.2 billion or $16.4 per share in the September-quarter from $7.01 billion or $10.12 per share a year earlier. For the most recent quarter, analysts were looking for a lower number.

Corporate Participants: Jim Friedland — Director of Investor Relations

Sundar Pichai — Chief Executive Officer, Google

Ruth M. Porat — Senior Vice President and Chief Financial Officer, Alphabet and Google

Analysts: Eric Sheridan — UBS — Analyst

Doug Anmuth — J.P. Morgan — Analyst

Heather Bellini — Goldman Sachs — Analyst

Brian Nowak — Morgan Stanley — Analyst

Brent Thill — Jefferies — Analyst

Justin Post — Bank of America Merrill Lynch — Analyst

Mark Mahaney — RBC Capital Markets — Analyst

Daniel Salmon — BMO Capital Markets — Analyst

Colin Sebastian — Robert W. Baird — Analyst

Ross Sandler — Barclays — Analyst

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