Google’s parent company reported a 16% surge in third-quarter revenue, with growth in its digital-advertising and cloud-computing units helping to finance robust artificial-intelligence spending.

Sales reached a record $102.3 billion for Google-parent Alphabet GOOGL 2.65%increase; green up pointing triangle, ahead of analyst expectations, and net income was about $35 billion, a 33% increase over the same period a year ago.

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