Alphabet's Earnings Rally Pushes Magnificent 7 Market Cap To Record $16.8 Trillion: 10 Tech-Heavy ETFs Moving Wednesday

Quick Summary:

Alphabet's earnings per share came in at $2.12, a 37% increase over the same quarter last year, far exceeding the consensus estimate of $1.55, according to data from Benzinga Pro.Revenue reached $88.27 billion, representing a 15% year-over-year rise and surpassing the $86.39 billion that analysts anticipated.

Alphabet Inc.(NASDAQ:GOOGL) (NASDAQ:GOOG), the parent company of Google, reported stellar third-quarter earnings that not only beat Wall Street’s expectations but also drove the combined market cap of the “Magnificent Seven” tech giants to an unprecedented $16.8 trillion.

Google advertising business was a key factor leading to the rise in revenue, totaling $65.9 billion, up from $59.6 billion last year.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Piero Cingari

Category: Technology

Markets: United States

Topics: Pro Project Equities US0378331005 GGLL AMD US5949181045 ETFs GOOG TSLA US38259P7069 US67066G1040 US0231351067 Broad U.S. Equity ETFs KQQQ AAPL XLC US4642872752 US0079031078 Magnificent 7 IGPT Benzinga LRND US88160R1014 Tech NVDA META US74347R2638 FCOM Stories That Matter MSFT GOOGL VOX Sector ETFs Markets LTL Large Cap QQQU IXP Movers Top Stories US38259P5089 US92204A8844 AMZN

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 15:38:25 (1 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 535 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23340274

View Article Analysis

About Benzinga

Main Topics: Technology

Official Website: benzinga.com

Update Frequency: 26 posts per day

Year Established: 2010

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #53

Publisher Details

Frequently Asked Questions