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Alphabet's third-quarter profit beats estimates

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By Reuters
Alphabet's third-quarter profit beats estimates
FILE PHOTO: The brand logo of Alphabet Inc's Google is seen outside its office in Beijing, China August 8, 2018. Picture taken with a fisheye lens. REUTERS/Thomas Peter   -   Copyright  THOMAS PETER(Reuters)

(Reuters) – Alphabet Inc beat Wall Street estimates for third-quarter profit on Thursday, as the search engine giant’s revenue from online advertisements soared.

Net income rose to $9.19 billion (£7.2 billion), or $13.06 per Class A and B common share and Class C capital share, from $6.73 billion, or $9.57 per share, a year earlier.

Revenue jumped to $33.74 billion from $27.8 billion.

Analysts on average had expected revenue of $34.05 billion and earnings of $10.45 per share, according to Refinitiv data.

(Reporting by Munsif Vengattil in Bengaluru and Paresh Dave in San Francisco; Editing by Bernard Orr)