Shares in Alphabet, Google’s parent company, soared to more than $1,000 in after-hours trading in New York, after it beat expectations on earnings by more than $1 a share.

Alphabet and Amazon both crossed the $1,000 mark after releasing earnings on the technology industry’s Super Thursday, a bumper day of reporting on the third quarter. Twitter and Intel also rose after reporting earnings.

Alphabet’s diluted earnings per share for the third quarter were $9.57, significantly higher than the average analyst estimate for $8.33, and up 32 per cent from the same period the year before. Net income was $6.7bn.

Sales rose 24 per cent year on year to $27.8bn, above the consensus forecast for $27.2bn, overcoming concerns that revenue could have been affected by big brand marketers pulling adverts from YouTube because of concerns about them appearing next to unsavoury content.

Paid clicks were up 47 per cent year on year in total, while cost per click continued to fall, down 21 per cent, as mobile dilutes desktop search.

The cost of acquiring traffic for search also rose significantly, by 32 per cent year on year, raising concerns that at least one of Google’s partners may have put up prices. Traffic acquisition costs were 23 per cent of advertising revenue, up from 21 per cent for the same period the year before.

Ruth Porat, Alphabet’s chief financial officer, said it was a “terrific quarter” for both Google, which also includes YouTube, and the Other Bets.

“Our momentum is a result of investments over many years in fantastic people, products and partnerships,” she said.

Other Bets — the divisions apart from Google such as self-driving car unit Waymo and life sciences business Verily — contributed revenue of $302m, up from $197m in the same quarter the year before. Their operating loss slightly narrowed from $861m in the third quarter last year to $812m this year.

During the quarter Google signed a $1.1bn smartphone deal with Taiwan’s HTC and released its latest Pixel phone.

Investors are watching to see if Alphabet gives any more details about regulatory pressures building in Europe

Google shares were up 4.4 per cent to $1,015.77.

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