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Illustration: Lazaro Gamio/Axios

Google and YouTube's parent company, Alphabet, posted earnings and profit that surpassed expectations in the third quarter, crushing digital advertising and easily bearing privacy changes from Apple.

Why it matters: Google continues to be incredibly profitable — it keeps growing in areas like Google Cloud and YouTube and has recovered fully from an advertising slump due to the Covid-19 pandemic.

  • Google has not suffered as much from Apple's privacy changes made to iOS 14 this year because of its Android operating system.
  • YouTube and advertising revenue are way up, with ad revenue up to $53.13 billion from $37.1 billion this time last year and YouTube ads at $7.21 billion compared to $5.04 billion in 2020.
  • Retail boosted ad growth the most, said Phillip Schindler, chief business officer.

By the numbers, via CNBC:

  • Earnings per share: $27.99 per share vs $23.48 per share, according to Refinitiv.
  • Revenue: $65.12 billion vs. $63.34 billion, per Refinitiv.
  • YouTube advertising revenue: $7.20 billion vs. $7.4 billion expected.
  • Google Cloud revenue: $4.99 billion vs. $5.07 billion expected.
  • Traffic acquisition costs (TAC): $11.50 vs. $11.16 billion expected.

Go deeper

Infrastructure bill to bring $35 billion to Texas

Illustration: Axios Visuals

Texas is set to receive $35 billion for bridges, roads and public transit improvement from the $1.2 trillion infrastructure bill signed into law this week.

Why it matters: Texas infrastructure "has suffered from a systemic lack of investment," according to a White House report. The state received a C- from the American Society of Civil Engineers.

Updated 9 hours ago - Technology

From Malcolm X to "Free Britney," new media shapes the justice system

Illustration: Shoshana Gordon/Axios

True crime documentaries, podcasts and social media campaigns are bringing new attention to real-world legal proceedings — and are often affecting the outcome.

Why it matters: New media platforms can instantly put a national spotlight on cases that have long been forgotten or buried under red tape.

Updated 12 hours ago - Health

The next big bottleneck in the global vaccination effort

Illustration: Rae Cook/Axios

The world still needs more coronavirus vaccines, but an additional bottleneck has emerged in many low-income countries: They need help getting shots in arms.

Why it matters: Increasing vaccination rates across the world is both a humanitarian necessity and the best way to prevent dangerous new variants from emerging, but it increasingly requires complex problem-solving.