Alphabet Posts $102B Quarter; YouTube Ads Top $10B

Alphabet reported its first-ever $100 billion quarter, with Q3 revenue of $102.3–102.35 billion (up ~16% year‑over‑year), net income of roughly $35 billion and EPS of $2.87, beating analyst expectations. YouTube ad sales reached $10.26–10.3 billion, up about 15% YoY, driven by direct-response and brand ads and growing monetization of Shorts, which now earn more revenue per U.S. watch hour than traditional in‑stream content. Paid subscriptions across Google One and YouTube (including YouTube Music, previously reported at ~125 million) surpassed 300 million. Google Cloud was the fastest-growing segment, rising ~34% to $15.2 billion, producing about $3.6 billion in profit and carrying a $155 billion backlog. Management credited AI integrations (including Gemini, whose app now has over 650 million monthly active users) for momentum but warned election-related ad spending and ongoing distribution and product challenges — including YouTube TV carriage disputes and an organizational reshuffle at YouTube — could affect future ad revenue.