Ahead of the busy holiday season, Alphabet has just reported its Q3 2018 results, with earnings of $33.74 billion — up 21% from the same quarter last year. These numbers range from August to September and did not beat analyst expectations.
Revenue is up 21% from $27.77 billion in Q3 2017, with net income at $9.19 billion for this quarter. For comparison, Alphabet reported $32.65 billion in revenue and a $3 billion in net income last quarter even after factoring the $5 billion EU Android fine.
Our business continues to have strong momentum globally, led by mobile search and our many products that help billions of people every day,” said Ruth Porat, Chief Financial Officer of Alphabet and Google.
Analysts expected $34.04 billion in revenue, with the stock down around 3.5% in after hours trading.
The Pixel 3 and Google Home Hub launched in early October so they are not included this quarter, but should have a big impact in the upcoming holiday season. Other revenue — which includes hardware, Play Store, and Google Cloud enterprise efforts — reported $4.6 billion, compared to $3.4 billion the same quarter last year.
The much-analyzed “Other Bets” continues to lose money, but is slowly increasing revenue. It reported $146 million revenue primarily generated by Verily and Fiber, with operating loss up to $727 million from $732 million (recast) in the previous quarter.
As usual, Alphabet will hold an earnings call with investors and members of the press to further break down numbers from its Q3 2018 earnings release. You can follow along via the livestream below and we’ll have coverage of any notable tidbits the company reveals.