Alphabet Earns Record Profit On Surge In Google Ads

Google owner Alphabet Inc. on Tuesday reported higher than expected third-quarter ad sales, a sign that the business is overcoming new limits on tracking mobile users and that online shopping is as popular as ever heading into the holiday season.

Photo Insert: Google's New York City office building houses its largest advertising sales team.

Through its search engine, YouTube video service, and partnerships across the Web, Google sells more internet ads than any other company.

Demand for its services surged in the past year as the pandemic forced people to spend more time online, and their new habits have persisted, Paresh Dave and Nivedita Balu reported for Reuters.

Google advertising revenue rose 41% to $53.1 billion during the third quarter. Alphabet's overall sales jumped to $65.1 billion, above the average estimate of $63.3 billion among analysts tracked by Refinitiv.

"The consumer shift to digital is real and will continue even as we start seeing people return to stores," said Philipp Schindler, Google's chief business officer. "The underlying takeaway is that people want more choice, they want more information, more flexibility, and we don't see this reversing."Google's New York City office building houses its largest advertising sales team.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic