Google parent Alphabet late Thursday easily beat Q3 earnings and sales estimates, fueled by mobile search revenue, YouTube and programmatic ads. Earnings before various items rose 16% to $7.35 a share, the second straight quarter of accelerating growth. FactSet expected $6.98; analysts polled by Thomson Reuters had forecast $7.21. Alphabet (GOOGL) revenue minus traffic acquisition costs, or what it pays other sites to carry its
Amazon.com late Thursday reported that it had swung to an unexpected profit in Q3 as revenue jumped 23% and also beat Wall Street expectations. The No. 1 e-commerce company, Amazon.com (AMZN) posted revenue of $25.4 billion, where analysts polled by Thomson Reuters had expected $24.9 billion. Amazon earned 17 cents a share vs. a year earlier’s 95-cent loss. Amazon stock was up 10% in after-hours trading. Shares rose 1.5% in the
The chip industry’s merger frenzy elevated Wednesday with two multibillion-dollar deals, one of which might result in a new chip-gear industry leader. Lam Research (LRCX) announced an agreement to buy KLA-Tencor (KLAC), and the combination might overtake Applied Materials (AMAT) in semiconductor equipment market share, says at least one analyst. The $10.6 billion merger was announced three hours before Western Digital (WDC) said