Google’s new parent Alphabet reports steep profit gain

Alphabet the new parent company of Google, has reported profits up almost 50% for the third quarter.

Net income was $3.98bn, up from $2.74bn for the same quarter last year.

Google’s revenue was $18.7 compared with $16.5bn.

Growth came mainly from mobile searches and YouTube users.

In August, the company created Alphabet as the new parent company of Google and its other diverse businesses.

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