Mobile and Youtube boost Google parent Alphabet profits

Google parent company Alphabet has beaten expectations, reporting a 20.2 % rise in quarterly revenue helped by sales of advertising on mobile devices and YouTube.Revenue in the third quarter rose to $22.5bn (£18.5bn), from $18.7bn a year earlier.Net income for the quarter was $5bn, up from $4bn a year ago. Alphabet, along with Facebook, dominates the fast-growing mobile advertising market.Google’s total ad revenue rose 18.1% to $19.82bn in the third quarter, accounting for more of its revenues.”We had a great third quarter,” Alphabet chief financial officer Ruth Porat said in the earnings release.”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.”Google underwent a restructuring drive late last year and created Alphabet as a new parent…

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