Alphabet share price jumps as group reveals profit surge in first results since dropping Google name

Caitlin Morrison
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Revenue from Google websites shot up by 16 per cent during the third quarter (Source: Getty)

Shares in online giant Google have jumped by over 10 per cent in after hours trading after the company revealed a 13 per cent jump in revenue to $18.7bn (£12.2bn) in the three months to 30 September.

Net income rose to $3.98bn from $2.74bn, and excluding one-off items, earnings per share rose to $7.35, ahead of anaylsts' expectations of $7.21.

Revenue from Google websites was $13.1bn, up 16 per cent compared to the third quarter of 2014, and paid clicks on Google websites jumped by 23 per cent.

Traffic acquisition costs rose slightly to $3.6bn from $3.4bn.The company announced that it was rebranding as Alphabet in August, and said the new operating structure is “being introduced in phases”.

Ruth Porat, finance chief of Alphabet and Google, said: “Our third quarter results show the strength of Google's business, particularly in mobile search. With six products now having more than one billion users globally, we're excited about the opportunities ahead of Google, and across Alphabet.”

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