Alphabet tops $100 billion quarterly revenue for first time, cloud grows 34%

Core Insights - Alphabet is expected to report a 13% year-over-year revenue growth in its upcoming third-quarter earnings report [1] Financial Performance - The company's stock price increased by 38% in the third quarter, marking its best quarterly performance in two decades, and has risen an additional 11% in October [2] - Revenue for the quarter is projected at $99.89 billion, with earnings per share at $2.26 [11] Legal and Regulatory Developments - A significant legal victory occurred when U.S. District Judge Amit Mehta ruled against severe antitrust consequences proposed by the Department of Justice, allowing Google to retain its Chrome browser [3][4] - Google faced a separate remedies trial regarding its ad tech monopoly, with closing arguments scheduled for late November [6] Product and Technology Advancements - Google launched its AI-powered Pixel 10 smartphone series to compete with Apple's iPhone and initiated a marketing campaign targeting Apple [7] - The Gemini app achieved the top position on Apple's App Store, surpassing ChatGPT, following the introduction of new features [9] - In October, Google introduced Gemini Enterprise, aimed at corporate clients, and announced the upcoming release of Gemini 3 [10] Organizational Changes - The company has reduced its managerial staff by over one-third compared to the previous year and laid off more than 100 design-related roles in its cloud division [12] - Google is pushing for increased use of AI tools among employees and has made changes to its remote work policies [12] Waymo Developments - Waymo received permits to test autonomous vehicles in New York City and was cleared for driverless rides at San Jose Mineta International Airport [13][14]