MOUNTAIN VIEW, Calif. (AP) _ Alphabet Inc. (GOOGL) on Thursday reported third-quarter net income of $11.25 billion.

On a per-share basis, the Mountain View, California-based company said it had profit of $16.40.

The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $11.40 per share.

The internet search leader posted revenue of $46.17 billion in the period. After subtracting Alphabet's advertising commissions, revenue was $38.01 billion, which also topped Street forecasts. Eleven analysts surveyed by Zacks expected $35.36 billion.

Alphabet shares have risen 16% since the beginning of the year, while the Standard & Poor's 500 index has risen 2.5%. In the final minutes of trading on Thursday, shares hit $1,556.88, a rise of 23% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GOOGL at https://www.zacks.com/ap/GOOGL

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