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00:02Alphabet reported third quarter revenue of $127.58 billion,
00:08missing analyst estimates of $128.20 billion, according to Benzinga Pro.
00:15Earnings came in at $2.12 per share, which may not compare to estimates of $3.02 per share.
00:22Revenue increased 25% year-over-year, with Google Search generating $63.35 billion
00:30and YouTube advertising contributing $11.21 billion.
00:35Google Cloud revenue more than doubled to $30.71 billion from $15.16 billion a year earlier.
00:45CEO Sundar Pichai said Alphabet's artificial intelligence investments are driving search
00:50query growth. Gemini models now process nearly 32 billion API tokens per minute,
00:56while the Gemini app has surpassed 1 billion users.
01:00Alphabet ended the quarter with $265.10 billion in cash, cash equivalents, and marketable securities.
01:09Shares fell by 8.08% in after-hours trading on Wednesday, trading at $295.57, according to Benzinga Pro.
01:19For all things money, visit Benzinga.com.
