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5 Takeaways From Alphabet's Strong Q3 Earnings Call

Google's parent company reported another solid fiscal quarter as revenue jumped 24 percent year over year with the Google Cloud Platform remaining a key component of Google's enterprise-facing strategy.

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A Closer Look At Google Cloud

Alphabet, Google's parent company, notched another solid fiscal quarter, as usual deriving nearly all its revenue -- $27.8 billion in the third quarter, representing 24 percent year-over-year growth -- from the core Google subsidiary.

Google Cloud Platform still pales in scope as a revenue generator to Google's massive advertising business. But cloud, the key component of Google's enterprise-facing strategy, is a central focus of investment, both in physical assets and in workforce, Google CEO Sundar Pichai (pictured) told investors during Alphabet's third-quarter earnings call.

Google doesn't break out financials specifically for GCP, but the "other revenues" category, which encompasses cloud, Google Play and hardware, saw $3.4 billion in sales in the third quarter for 40 percent year-over-year growth. Synergy Research, an independent analyst that crunched the financials, pegged Google Cloud Platform growth above 80 percent for the quarter.

In the earnings call, Pichai discussed where Google is making its investments, what capabilities it sees as differentiators, and the company's overall cloud strategy.

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