Alphabet Beats Revenue Estimates on Google Cloud Growth

Google parent Alphabet Inc. reported a third-quarter revenue increase that was stronger than analysts expected, helped by growth in its cloud computing business.

Revenue, excluding partner distributions, rose to $74.6 billion, topping analysts' average forecast of $72.9 billion, according to data compiled by Bloomberg. Net income was $2.12 per share, the company said in a statement Tuesday, compared with estimates of $1.84 per share.