Google’s parent company Alphabet Inc. reported 25% rise in third-quarter revenue to over 127 billion dollars year over year. It, however, remained below Wall Street expectations and sent shares down about 9 per cent in after-hours trading yesterday.
The company’s net income fell to over 26 billion dollars from nearly 35 billion dollars a year earlier. CEO Sundar Pichai said Alphabet was on a half-trillion-dollar annual revenue run rate, citing growth across its businesses. He also said the Gemini Artificial Intelligence app had reached 1 billion users, making it Google’s fastest-growing product.
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