Alphabet exceeded analyst expectations in Q3 earnings, with revenue at $102.35 billion and earnings per share at $3.10 adj. YouTube ad revenue reached $10.26 billion, Google Cloud revenue hit $15.15 billion, and total ad revenue was $74.18 billion. Cloud services saw a 35% increase, with a $155 billion backlog.

Alphabet plans to increase capital expenditures to $91-$93 billion for 2025, up from $75-$85 billion. The company’s net income rose to $34.97 billion, or $2.87 per share, compared to $26.3 billion, impacted by a $3.45 billion EU antitrust fine. Stock rose 5% in after-hours trading.

Other Bets reported revenue of $344 million, down from $388 million last year. Alphabet’s stock has surged 45% this year, with its search business generating $56.56 billion in revenue, up 15% YoY. The company continues to invest in AI and cloud infrastructure to meet growing demand.

Read more at CNBC: Alphabet tops $100 billion quarterly revenue for first time, cloud grows 34%