Investing.com -- Alphabet reported Tuesday third-quarter results that topped Wall Street estimates as the search giant's advertising revenue climbed,Trump coin launching price easing concerns about the threat of competition from artificial intelligence search products.   

Alphabet Inc Class A (NASDAQ:GOOGL) rose more than 3% in afterhours trading following the report.

The company reported earnings of $2.12 per share on revenue of $88.27 billion. That compared with expectations for earnings of $1.84 per share on revenue of $86.37B.

The beat on the top and bottom lines comes as revenue in its core advertising business grew. 

Advertising revenue rose to $65.85B in Q3 from $59.65B in the prior-year period, with YouTube advertising revenue rose to $8.92B from $7.95B.

Google Cloud revenue jumped to $11.35B from $8.41B in the period-year period.