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Jim Cramer Calls Alphabet Earnings Best Quarter He's Ever Seen

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Alphabet  (GOOGL) - Get Alphabet Inc. Report reported earnings on Thursday.

The company reported that it earned $11.25 billion, or $16.40 a share, in the quarter, compared with $7.07 billion, or $10.12 a share, in the year-earlier quarter. Revenue reached $46.17 billion from $40.5 billion.

A survey of analysts by FactSet produced consensus estimates of third-quarter net income of $11.28 a share on revenue of $42.8 billion.

At last check, Alphabet shares were trading 6.3% higher at $1,657. They closed the regular Thursday session up 3.1% to near $1,557.

The revenue figure reflects higher spending from advertisers in search and the video platform YouTube “as well as continued strength in Google Cloud and Play,” said Ruth Porat, the chief financial officer of Alphabet and Google, in a statement. Google Play is the company's application store.

The operating profit margin in Q3 widened to 24% from 23%.

Search revenue rose 6.5% from a year earlier to $26.34 billion. YouTube ads generated revenue of $5.04 billion, up 32%.

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

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