"Google parent Alphabet ( GOOGL) delivered third-quarter earnings and revenue that handily beat consensus estimates while internet search advertising and cloud computing revenue came in well above expectations. Google stock soared to a record high on the news in early trading on Thursday. Over a dozen Wall Street firms on Thursday hiked price targets on Google stock. On the stock market today, Google stock hit a record high of 291.59 after the market open, then pared gains. Shares gained 2.5% to close at 281.48 as the Nasdaq composite retreated. Heading into the Google earnings report, shares had advanced over 43% in 2025, rebounding from a rough start."
"Further, Google reported cloud-computing revenue climbed 33.5% to $15.16 billion versus estimates of $14.70 billion. Google Cloud's order backlog jumped 82% from a year earlier to $155 billion. "The big learning for today was on Cloud, where a disclosed backlog of $155 billion (50% to 55% likely to be turned into revenue in the next two years) sets Google up to be a substantially larger company than investors had expected," said UBS analyst Stephen Ju in a report."
Alphabet reported Q3 GAAP earnings of $2.87 per share and total revenue of $102.35 billion, both above consensus. Internet search-advertising revenue rose over 14% to $56.57 billion. Google Cloud revenue climbed 33.5% to $15.16 billion and its order backlog grew 82% year-over-year to $155 billion. YouTube ad revenue increased 15% to $10.26 billion. All major revenue lines showed accelerating growth. Shares reached an intraday record of $291.59 and closed at $281.48, with year-to-date gains exceeding 43% heading into the report.
Read at Investor's Business Daily
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