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October 29, 2020The profits of the entire technology sector close beyond the expectations of investors, big techs like Apple, Alphabet, Facebook, Amazon and Twitter.
closed the third quarter with revenues up 37% to $ 96.1 billion.
Earnings per share stood at $ 12.37.
The results are above analysts' expectations, who were betting on $ 92.7 billion in revenues and on earnings per share of $ 7.55.
Archives the third quarter beyond expectations with a net profit of over 11.2 billion dollars.
The company - Google's parent company - took off 9% on the stock market after the close of the markets, thanks to quarterly results well above expectations, including net earnings per share of 16.40 dollars instead of the 11 dollars expected by the analysts.
The internet search giant saw its ad revenue rebound from July to September after the collapse during the lockdown, including on its YouTube video platform.
Google grossed $ 46.2 billion, up 14% year-on-year, for a net profit of $ 11.2 billion.
Advertisers have turned to Google's advertising system to let shoppers know about service offerings while the economy picks up.
In recent months, Google has stopped charging merchants for some promotional space and has issued grants to help other companies buy ads.
Positive third quarter also for
which reported revenue and profits that exceeded Wall Street expectations, with a continued boom in sales of Macs and accessories such as AirPods, which in part helped to offset the drop in
while customers awaited new models.
The Cupertino house closed the third quarter with revenues of 64.69 billion dollars and a net profit of 12.67 billion.
However, the weakening of iPhone sales pushed the stock to -4.89% on Wall Street.
Revenue from iPhones, which accounts for about half of total revenue, fell to 26.4 billion from the previous year's 33.4 billion, below estimates to 27.93 billion.
Revenues from Apple's services businesses, including Apple News, Apple TV + and iCloud, grew to $ 14.55 billion from $ 12.5 billion, over an estimated $ 14.12 billion.
Apple announced earnings per share of $ 0.73 on revenues of $ 64.70 billion.