Alphabet jumps 6% on Q3 earnings as CEO says AI bet is ‘paying off’
Alphabet and Google CEO Sundar Pichai said its AI business is “paying off” as the tech giant’s share price surged after the bell as it beat Wall Street estimates.
Google’s parent company Alphabet Inc. (GOOG) saw its share price jump 5.9% after-hours as its third-quarter results beat Wall Street earnings and revenue estimates — boosted by its artificial intelligence business.
GOOG closed up 1.66% on Oct. 29 at $171.14, continuing to climb after the bell to $181.22, according to Yahoo Finance. Its share price is up 21.73% year-to-date.
The tech giant’s Q3 revenues hit $88.27 billion, rising 15% from the same quarter a year ago and beating Wall Street estimates by 2.2%.
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Author: Jesse Coghlan
