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Shares of Google parent Alphabet jump as company beats Wall Street forecasts

Discussion in 'Market News' started by Lily, Oct 23, 2015.

  1. Lily

    Lily Forum Member

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    Alphabet reports 13% rise in quarterly profits boosted by strong advertising sales driven by YouTube and mobile search

    Stock in Alphabet – formerly known as Google Inc – jumped in after-hours trading on the news the company had beaten Wall Street expectations with an earnings per share of $5.73.

    The company reported a 13% rise in quarterly revenue, boosted by strong advertising sales driven by YouTube and mobile search, it said. Its advertising line-items seemed to suggest a slightly different story – the company’s cost-per-click (how much it receives for every ad a user clicks on) was down 11% year-over-year, though its aggregate paid clicks metric was up 23%.

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