Google parent company Alphabet reported mixed third-quarter results, beating analyst expectations for revenue but falling short on profits.
The company reported a profit of $7.1 billion, or $10.12 per share -- significantly below the $8.7 billion expected by analysts polled by FactSet.
Alphabet makes the majority of its money from selling targeted advertising across the web, apps and Google products including its search engine and video streaming site YouTube. Investors are also closely watching the growth of Google’s cloud computing business. Google’s cloud is considered an important and growing business for the company, although it trails well behind competitors Amazon and Microsoft.
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