Google parent Alphabet announced third-quarter results. Both revenues and earnings per share beat Wall Street estimates.
The company reported roughly $27.8 billion in total revenues (up 24 percent), with Google contributing all but $302 million of that amount. Earnings per share were $9.57, which was about $1.24 higher than expected.
Advertising generated just over $24 billion in quarterly revenue. Operating income was about $7.8 billion. However, traffic acquisition costs (TAC) rose to $3.1 billion (vs. $2.6 billion a year ago). There are sure to be analyst questions about that item.
The revenue breakdown by segment:
Google properties: $19.7 billion
Google network: $4.3 billion
Google “other revenues”: $3.4 billion
Other bets: $302 billion
Paid clicks on Google properties were up 6 percent year over year and aggregate cost per click (CPC) was up 1 percent. Here’s more detail:
Aggregate paid clicks overall up 47 percent (year over year).
Paid clicks on Google properties up 55 percent.
Paid clicks on the Google Network up 10 percent.
Aggregate CPCs down 18 percent year over