According to the report, the total revenue of alphabet in the third quarter was 46.173 billion US dollars, 14% higher than that of US $40.499 billion in the same period of the previous year. Excluding the impact of exchange rate changes, the net profit of alphabet in the third quarter was 11.247 billion US dollars, 59% higher than that of 7.068 billion US dollars in the same period of last year. < p > < p > after the results were announced, Google CEO Sundar Pichai and CFO Ruth Porat held a conference call with analysts to answer questions about the business. Eric Sheridan, UBS analyst: two questions. First of all, with regard to search, you mentioned medium – and long-term innovation goals. Can you talk about how search will develop in the future compared with current products? How to promote the participation and Realization of the platform from user input to content discovery and advertisement discovery? Second, the company’s hardware strategy seems to have changed. This year’s hardware strategy seems to focus more on low and medium price hardware. How do you think hardware and such a strategy will help search in the future? Thank you, Eric. You’re right about search. Especially in mobile and environmental computing, where you can access computing through other forms of factors. I think it’s important to move your fingers and you can find relevant information. So I do see it as a complete user journey. Obviously, search will continue to evolve. The “discovery” function performs well, which can ensure that people get relevant information. In my opinion, it is important for us that we are meeting the information needs of users and have a good opportunity to realize it. < / P > < p > the second one is about hardware. We are investing more deeply in hardware, some of which may take two to three years to see the results, but I am very optimistic about the road map for the future. I think we’ve already demonstrated the clear value proposition of pixel 4 or pixel 5, and we’ll build on that. In our product portfolio, we will also consider some important formal factors. We do consider fair search and fair assistant. So, in many ways, the hardware is good for us to guide the Android ecosystem, to make sure that the information is within reach of the user’s fingertips. That’s our strategic view. But I am still very optimistic about the future route planning. Next year, you’ll see our deeper investments play a role in these areas. Douglas anmuth, JP Morgan analyst: I have a question for Ruth Polat. We have seen the increase of expenditure in the third and fourth quarters. Can you further explain the following expenditure structure? Do you expect the expenditure structure to change significantly as the epidemic progresses? For example, the sustainability of marginal improvement and so on. < p > < p > Ruth Borat: as I said before, because of the epidemic, we did make some tactical adjustments to slow down the rate of spending on certain categories. We started these adjustments at the end of the first quarter. Today, you can see some effects from the financial report, of course, including the impact of improved revenue and performance. We have also been focusing on efficiency optimization, which we have emphasized many times in the previous financial report conference call. As we discussed with you on the earnings call, and as I mentioned today, we are committed to making the right investments to support long-term profit growth. I think the positive side of the current environment is that digital transformation seems to be accelerating, which highlights the importance of the services and products we provide, as well as long-term opportunities. So, we will continue to invest in the best long-term opportunities. An obvious example is cloud services. Given the opportunities we see, we will continue to invest at a high level in cloud services. Heather Bellini, Goldman Sachs analyst: I have a question for sandar. If you remember correctly, Thomas Kurian has been in charge of Gu Geyun for two years. What do you think is the biggest change Thomas has brought to Google’s cloud business to grow and gain more market share? Looking forward to 2021 and based on the current trend of digital transformation, what do you think are the top strategic priorities at present? There are several things. The first is a consistent concentration strategy, focusing on five major regions, four customer groups and six important industries (medical, retail, financial services, media, entertainment, manufacturing, public sector), focusing on deepening and expanding our market size. This is one of them. Secondly, some key differentiation factors are also playing a role, especially as we see them as unique industry solutions. So, I think it’s important to go deep and come up with solutions, and then, in some cases, price based on value. We have advantages, and based on our underlying technology, we do have our own characteristics in the fields of data and artificial intelligence. But I’m also happy with the execution. Obviously, it takes time, from hiring sales teams, then training, to improving their performance. As we’ve always said, investing takes time. But now, we can see that the investment is gradually paying off. Therefore, it is also due to implementation. < p > < p > Morgan Stanley analyst Brian Nowak: Thank you for taking my question. My question is about e-commerce. In the field of e-commerce, the competition is becoming more and more intense. So, can you talk about what types of consumer behavior changes you see in e-commerce search on the platform? What key investment priorities do you think you need to implement to ensure that you have an edge in e-commerce? < p > < p > Pichia: first of all, I’m happy with the series of progress that has been made in the past few months. Obviously, one of our priorities is the user experience. We want to make sure that as a consumer, you can enjoy a comprehensive high-quality inventory, service and experience on our platform. Our previously launched free listing in the United States has now been extended to 48 countries around the world, and the Commission is free. Then, in terms of purchase and order payment, the platform also integrates paypal and Shopify, which also promotes the comprehensiveness of the platform. Therefore, quality has always been our focus. As for consumer behavior, I find it more interesting that search can capture the current intention. I believe that searching for signs is a real asset. You can see the dynamic in real time. However, I would like to say that YouTube is also an important platform for e-commerce. I can see advertisers and Youtube broadcasters at the middle of the channel. Investors create demand, create interests and so on. For us, e-commerce on YouTube also works well. This is also an opportunity for us. Then, make sure that the rest of the experience is good for the user, which is what we pay close attention to. Spontaneous combustion at a Guangzhou Motor vehicle intersection and other traffic lights in Shenzhen