Google announces Q3 2015 results: $18.7 billion in revenue, $3.97 billion net income

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Google has announced its Q3 2015 earnings, showing strong growth in revenues and net income for the quarter compared to last year. Total revenues for the quarter were $ 18.7 billion, which is a 13 percent growth over 2014. Net income came in at $ 3.979 billion, up from $ 2.739 billion in 2014.

Breaking down the revenues, Google’s websites contributed $ 13 billion of the revenue, up 16 percent over last year, while the “other revenues” segment — which includes the Nexus business — came out to $ 1.89 billion, up 11 percent year-over-year.

Paid advertisement clicks, a major part of Google’s business, were up 23 percent year-over-year- and six percent quarter-over-quarter, while paid clicks on Google’s own websites were up 35 percent year-over-year and seven percent quarter-over-quarter. In a continuing trend, cost per click dropped again, this time 11 percent year-over-year and only one percent quarter-over-quarter.

Operating expenses for Q2 were $ 6.93 billion, which works out to 37 percent of revenues. At the end of the quarter Google held $ 72.76 billion in cash and cash equivalents, up from $ 61.1 billion last year, and its effective tax rate dropped to 19 percent for the quarter.

The board of directors of Alphabet have authorized Google to purchase back $ 5 billion of its Class C capital stock. This will commence in the fourth quarter of 2015.

On the employment side of things, Google’s total number of employees grew to 59,976, a big jump from the 51,544 in the same quarter last year.