Alphabet Inc. (GOOGL) has witnessed an impressive 11% surge in its third-quarter revenue, buoyed by the revival in advertising, which breached double-digit growth for the first time in over a year. The company has notched up advertising revenue to $59.65 billion, marking a significant leap from last year’s figure of $54.48 billion.
Moreover, Alphabet registered a total quarterly revenue of $76.69 billion, surpassing the consensus estimate of $75.97 billion. The Earnings Per Share (EPS) also stood favorably at $1.55, outpacing analyst projections of $1.45.
