Alphabet, Inc., the company once know as Google, but is now the parent company of Google the search business versus say the self-driving car project (hopefully that’s clear) has reported third quarter results for Google (the division that is) and despite the corporate restructure they came in glowingly.

For the quarter ending September 2015, Google brought in a total of $18.7 billion in revenue, up a decently solid 13 percent year-over-year from Q3 2014’s figure of $16.5 billion.

Total net income was reported at $3.98 billion, which is up from the $2.74 billion Google earned for the same quarter last year.

Sites owned by Google generated $13 billion through its core advertising business, up 6 percent quarter-over-quarter and a 16 percent increase year-over-year; there was also good news for the company when it comes to people clicking on ads with paid advertisement clicks seeing a 23 percent year-over-year increase, and better again paid clicks on Google’s websites growing 35 percent year-over-year and 7 percent quarter-over-quarter increase.

The “other revenues” section of Google’s financials, which includes products such as Google Play and the Nexus program, showed some impressive growth a revenue coming in at $1.89 billion, up 11 percent both year-over-year and quarter-over-quarter.

Google’s operating costs were reported at $6.93 billion, up from $6.1 billion this time last year, but of note came in a period Google also hired just over 8,400 new employees since last year, a seriously large increase in headcount that would no doubt explain much of the increase in operating costs.

Like many tech companies in 2015 Google made note that many of their figures would have been higher had it not been for the constant increase in value of the dollar versus foreign currencies; the company said that had foreign exchange rates remained constant from the third quarter of 2014 through the third quarter of 2015, revenues in the third quarter of 2015 would have been $1,291 million higher with a constant currency growth rate of 21% year over year.

The foreign exchange rate impact came in a $1,577 million, although was offset by hedging gains of $286 million in relation to Google’s foreign exchange risk management program.

Share buyback

While the numbers were solid for the core Google search business in the quarter, what really excited the market was the announcement by parent company Alphabet of the share buyback at the same time the quarterly numbers were released.

Under the buyback the company will repurchase just over $5 billion of Class C stock, to be precise $5,099,019,513.59, which is the square root of 26 e to the 18th power, because apparently there are 26 letters in the Alphabet…must be some sort of insider joke.

Shares in Alphabet surged on the news of both Google’s financials and Alphabet’s share buyback with the market driving the share price up $70.05 in after hours trading, or a whopping 10.75 percent.

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