Alphabet's Google Cloud division drives revenue surge, beating market expectations
Alphabet, Google's parent company, has announced a surge in revenue for the third quarter, largely driven by its robust Google Cloud division.
The tech giant revealed in its latest financial report that revenues hit a remarkable $88.3bn (£67.8bn), marking a 15% uptick from the previous quarter, as reported by City AM.
Yet the increment in Alphabet's cornerstone advertising business didn't keep pace with the rest of the group.
Year-on-year, the firm witnessed a more modest ad revenue rise of 10.4%.
Both search advertising and Youtube ad earnings saw an identical climb of 12.2%, taking ad revenues to $49.9bn (£38.3bn) while Youtube raked in $8.9bn (£6.8bn).
According to Hargreaves Lansdown senior equity analyst Matt Britzman: "This is arguably Alphabet's biggest question
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