Alphabet beats Q3 estimates, stock hits all-time high
Alphabet shares were up 4% in after-hours trading Thursday, after the company beat revenue estimates in its third quarter earnings. Revenue growth was driven mostly mostly by mobile search and programmatic advertising. Alphabet also noted that its smart thermostat product, Nest, drove growth in its "Other Bets" category of innovative businesses.
The company saw notable growth in the Asia-Pacific region, which Google CEO Sundar Pichai said on an earnings call with investors can be attributed to investments in advertising, as well building out product and engineering teams.