Mobile, video pump up profit at Google parent Alphabet

Google parent Alphabet (Xetra: ABEA.DE - news) delivered higher profits for the third quarter, lifted by gains in mobile and video advertising as the tech giant narrowed losses on its "moon shots." Net (LSE: 0LN0.L - news) profit climbed 27 percent to $5.1 billion. Revenue rose to $22.5 billion from $18.7 billion in the same period a year earlier. Shares (Berlin: DI6.BE - news) rose nearly one percent in after-market trades that followed the release of the stronger-than-expected earnings figures. "We had a great third quarter," Alphabet chief financial officer Ruth Porat said in the earnings release.