The company’s revenues for the reported quarter surged by 41% to $65.11bn, compared to $46.17bn in Q3 2020
Google’s parent company Alphabet earned revenues of $65.11bn in Q3 2021. (Credit: brewbooks from near Seattle, USA/Wikimedia Commons)
Alphabet has reported a net income of $18.93bn for the third quarter of 2021 (Q3 2021), a 68.4% increase compared to $11.24bn for the same quarter of the previous year.
In the preceding quarter, that is Q2 2021, Google’s holding company posted a net income of $18.52bn.
Alphabet’s diluted earnings per share in Q3 2021 were $27.99 for the quarter ended 30 September 2021, compared to $16.4 reported in the same quarter of 2020.
The company’s revenues for the reported quarter moved up by 41% to $65.11bn, compared to $46.17bn in Q3 2020. In Q2 2021, the company’s revenues were $61.88bn.
Alphabet and Google CFO Ruth Porat said: “Our consistent investments to support long-term growth are reflected in strong financial performance, with revenues of $65.1 billion in the quarter.
“We continued to deliver across our business by providing helpful and valuable experiences for both consumers and our partners.”
Alphabet earned $53.1bn in revenues from its Google advertising business for Q3 2021, compared to $37bn in Q3 2020. These include revenues from Google Search and others ($37.92bn), Youtube ads ($7.2bn), and Google Network ($7.99bn).
Google Cloud contributed revenues of $4.99bn for the reported quarter, compared to $3.44bn in the corresponding quarter of 2020.
The operating income for Alphabet in Q3 2021 was $21.03bn, compared to $11.21bn in Q3 2020.
Alphabet’s workforce as of 30 September 2021 was 150,028, compared to 132,121 at the end of the third quarter of last year.
Alphabet and Google CEO Sundar Pichai said: “Five years ago, I laid out our vision to become an AI-first company. This quarter’s results show how our investments there are enabling us to build more helpful products for people and our partners. Ongoing improvements to Search, and the new Pixel 6, are great examples.
“And as the digital transformation and shift to hybrid work continue, our Cloud services are helping organizations collaborate and stay secure.”
In July 2021, Alphabet announced the launch of a new company called Intrinsic, which will be engaged in developing software tools for industrial robots. Intrinsic will be a standalone company that will operate within Alphabet’s Other Bets segment.