Alphabet’s Q3 earnings beat estimates with earnings of $2.87 per share and revenues of $102.35 billion. Google Services and Cloud revenues saw significant growth, while Google advertising revenues increased to $74.18 billion. Operating expenses were $71.12 billion. The balance sheet remains strong with $98.5 billion in cash. Capital expenditure guidance was raised to $91-93 billion for 2025.

Google Cloud benefits from enterprise adoption, ending the quarter with $155 billion in backlog. Workspace saw double-digit growth, and revenues from products built on Alphabet’s generative AI models grew over 200% year-over-year. Estimates for Alphabet have been trending upward, with a Zacks Rank of #3 (Hold) and a VGM Score of B.

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Read more at Nasdaq: Why Is Alphabet (GOOGL) Up 13.7% Since Last Earnings Report?