For the third quarter, Alphabet reported consolidated revenues of $69.1 billion, up 6% or up 11% in constant currency. The total cost of revenues was $31.2 billion, up 13%, primarily driven by other cost of revenues, which was $19.3 billion, up 20%. The biggest cost factor was data centers and other operations, followed by hardware costs.
In its Q3 financial results, Google Cloud saw continued momentum with Q3 revenue of $6.9 billion, compared with $5.0 billion a year earlier. Google Cloud had an operating loss of $699 million.
"The long-term trends that are driving cloud adoption continue to play an even stronger role during uncertain macroeconomic times."
The company also cited continue momentum for Google Cloud in terms of new features, with more than 100 new products and expanded relationships with Toyota, Prudential plc, Coinbase and AppLovin.
In terms of CAPEX, Google continues to make significant investments in technical infrastructure with servers as the largest component.
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