Alphabet Stock Hits Fresh Peak on Record Quarterly Revenue

Shares of Google parent Alphabet Inc (NASDAQ:GOOGL) are up 4.2% to trade at $286.05 at last glance, after the company reported record revenue of $100 billion for the third quarter, surpassing analysts' expectations. Quarterly profits of $2.87 per share also impressed due to strong Google cloud and YouTube advertising revenue, as well as a $155 billion customer backlog. This year, the 'Magnificent 7' member says its AI spending is set to reach $93 billion. GOOGL surged to a record high of $291.59 right out o ...