Alphabet Inc (NASDAQ:GOOG) shares added almost 5% after hours as the Google parent company posted strong results for the third quarter.
Revenue was up 16% year-over-year at $102.3 billion, beating estimates of about $99.9 billion.
This marks the first time Alphabet has recorded quarterly revenue above $100 billion.
Google Cloud revenue was up 34% at $15.2 billion, above the Street consensus of $14.7 billion.
Google Services revenue was up 14% from the year-ago quarter at $87.1 billion, attributed to strong performance across Google Search & Other, Google subscriptions, platforms, and devices, and YouTube ads.
Earnings per share also topped estimates, up 35% at $2.87 compared to the consensus $2.27.
“Alphabet had a terrific quarter, with double-digit growth across every major part of our business. We delivered our first-ever $100 billion quarter,” Alphabet CEO Sundar Pichai said in a statement.
Alphabet added that it expects 2025 capital expenditures to be in the range of $91 billion to $93 billion.