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Google parent Alphabet profit surges on mobile, video ads

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Jose Wenger
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View photosMoreA Google search page is seen through a magnifying glass in this photo illustration taken in Berlin, August 11, 2015.

Propelled by strong advertising on mobile devices and video site YouTube, Alphabet's net income climbed 27 percent to $5.06 billion.

Revenue jumped 20 percent to $22.45 billion, marking the search giant's seventh straight quarter of double-digit revenue growth.

Google Chief Executive Sundar Pichai touted the company's gains in the space, and was bullish about recent product launches such as the Google Assistant, the Google Home smart speaker and refinements to the enterprise cloud business.

The products are aimed at the rise of voice search, which many analysts believe will succeed keyboards and touch screens as a primary way users interact with devices.

The company posted third-quarter adjusted earnings per share of $9.06, beating expectations of $8.63 a share on revenues of $22.05 billion, according to Thomson Reuters I/B/E/S estimates.

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