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        <title><![CDATA[Alphabet stock surges as Google ad revenues roar back]]></title>
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            <media:title type="html">Alphabet stock surges as Google ad revenues roar back</media:title>
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						<p>Google parent Alphabet&#8217;s stock price surged early Friday as the search giant&#8217;s advertising revenues recovered from a coronavirus-fueled collapse.</p>
<p>Shares in the Silicon Valley conglomerate were up 6.2 percent in premarket trading at $1,664.48 as of 8:19 a.m. after it posted third-quarter revenues of nearly $46.2 billion &#8212; up 14 percent from a year ago and well above Wall Street analysts&#8217; <strong>expectations</strong> of $42.9 billion.</p>
<p>The jump was fueled by a rebound in Google ad sales after they tumbled in the spring as the COVID-19 pandemic hit advertisers&#8217; spending. Ad revenues from Google search, YouTube and other advertising partners totaled about $37.1 billion from July to September, up 9.7 percent from a year ago and 24.2 percent above the second quarter&#8217;s levels.</p>
<p>But it&#8217;s uncertain whether that growth will continue in the months ahead as coronavirus infections spike in the US and Europe, where some countries have imposed lockdowns like those that sparked a global economic collapse in the spring.</p>
<p>&#8220;While we&#8217;re pleased with our performance in the third quarter, there is obviously uncertainty in the external environment,&#8221; Alphabet chief financial officer Ruth Porat <strong>said</strong> Thursday.</p>
<p>Google&#8217;s growing cloud-computing business also continued to be a bright spot as the pandemic sparked a shift to remote work. Third-quarter revenues from the segment climbed to $3.4 billion, up more than 44 percent from a year ago and 14.5 percent from the prior quarter.</p>
<p>The sales boosts helped Alphabet post a net profit of $11.2 billion for the quarter, well above Wall Street&#8217;s average estimate of roughly $7.7 billion.</p>
<p>The strong earnings report came as Google faces growing regulatory scrutiny in the US. The feds accused the tech titan of <strong>running &#8220;unlawful monopolies&#8221;</strong> in its internet search and advertising businesses in a blockbuster antitrust lawsuit last week following a 16-month investigation.</p>
<p>Google responded by calling the biggest antitrust case in a generation &#8220;deeply flawed&#8221; and saying it &#8220;would do nothing to help consumers.&#8221;</p>
<p><em>With Post wires</em></p>
			
					
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