Alphabet, formerly Google, posts better-than-expected results

October 22, 2015 8:20 PM

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Alphabet, formerly Google, posts better-than-expected results

Alphabet Inc, known until recently as Google Inc, reported better-than-expected revenue and profit in the third quarter, boosted by strong advertising sales driven by YouTube and mobile search.

Alphabet, whose shares were up 10 percent in after-hours trading on Thursday, said its board has authorized a stock buyback of up to $5.09 billion of Class C shares.

Also read: BAT Wins Reynolds With Sweetened $49.4 Billion Buyout Bid

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