Alphabet and LinkedIn released their latest earnings reports after closing bell tonight. Alphabet posted adjusted earnings of $9.06 per share on $22.45 billion in revenue. Analysts were expecting $8.62 per share in adjusted earnings and $22.05 billion in revenue. In last year’s third quarter, the technology company posted $7.35 per share in earnings on $18.675 billion in revenue.
Linked in posted adjusted earnings of $1.18 per share on $959.8 million in revenue, compared to the consensus estimates of 91 cents per share in earnings and $898.3 million. In last year’s third quarter, the social network reported $779.6 million in revenue.
Alphabet’s revenue growth accelerates
Alphabet’s GAAP earnings rose to $7.25 per share from $5.73 per share, while GAAP net income increased from $4 billion to $5.1 billion. Google segment revenues grew to $22.25 billion, while Other Bets revenues edged upward to $197 million. Cost of revenue amounted to $8.7 billion or 39% of revenue.
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“We had a great third quarter, with 20% revenue growth year on year, and 23% on a constant currency basis,” Alphabet Chief Financial Officer Ruth Porat said in a statement. “Mobile search and video are powering our core advertising business and we’re excited about the progress of newer businesses in Google and Other Bets.”
Shares of Alphabet edged upward by as much as 1.06% to $829.19 in after-hours trades.
LinkedIn swings to profit
LinkedIn’s GAAP earnings were 6 cents per share or $8.6 million, compared to losses of 36 cents per share or $47.4 million last year. Adjusted EBITDA was $304 million. Talent Solutions revenue grew 24% to $623 million, while Marketing Solutions revenue increased 26% to $175 million. Premium Subscriptions revenue grew 17% to $162 million.
LinkedIn’s cumulative member count increased 18% year over year to 467 million, while unique visiting members increased 6% to 106 million members per month. Member page views increased 27%.
“In Q3, continued product investments across our platform drove another quarter of strong engagement and financial performance,” Chief Executive Jeff Weiner said in a statement. “As we look forward, our combination with Microsoft creates the opportunity for us to dramatically increase the impact and scale with which we deliver value to our members and customers.”
The social network will not hold a conference call on tonight’s results due to the pending acquisition by Microsoft.
LinkedIn shares edged upward by as much as 0.17% to $188.95 in after-hours trades