Since announcing their new structure, it’s been inevitable that the line between Google and Alphabet financials would become blurred. This quarter Alphabet has announced their results for their overall market. Overall, there was strong results for Google, however this failed to meet some analysts expectations from Google.
So, what were the numbers? Well, Alphabet earned $20.3 billion in revenue, that’s 17% up year-over-year on Google’s $17.3 billion in revenue from Q1 2015. This revenue gave them a net income of $4.2 billion – in other words, they earned a bucket load of money. The analysts however have gotten involved and though Google ended the day with a share price of $759.14USD they dropped 45 points (5.97%) to $713.80USD per share in after hours trade.
Ruth Porat, CFO of Alphabet said of the results:
Our Q1 results represent a tremendous start to the year with 17% revenue growth year on year and 23% growth on a constant currency basis. We’re thoughtfully pursuing big bets and building exciting new technologies, in Google and our Other Bets, that position us well for long term growth.
Those ‘Other Bets’? Well, they had revenues of $166 million which is over double the $80 million they pulled in last year, and their operating loss was $802 million – they lost $633 million in Q1 2015.
Let’s talk some other numbers:
- Alphabet has $75 billion cash (and cash equivalents) on hand – an increase of $10 billion over this time last year, or $2 billion more than the end of Q4 2015.
- There’s also been a change in employees with Alphabet employing more people, there are now 64,115 employees across Alphabet, which is up from the 61,814 last quarter.
If watching earnings calls is your thing, you can watch Alphabets right here: