YouTube and Google Search helped power Alphabet's strong third quarter earnings report
For the third quarter, Alphabet took in revenue of $22.45 billion and banked earnings of $9.06 a share for the three month period. That topped estimates of $22.05 billion in revenue and earnings of $8.63 a share. Crushing estimates like that usually results in a strong after hours rally, and today was no different. After hours, Alphabet shares rose $10.15 to $805.50.
Year-over-year, third quarter earnings rose 23% while revenue expanded by 20%. At the same time, the company announced that its board approved a buy back of more than 7 million Class "C" shares. This quarter last year, the company repurchased $5,099,019,513.59 in Class "C" shares. Why did Alphabet settle on that precise number of shares? Because 5.099019514 is the square root of 26, which is the number of letters in the alphabet.