It’s that time of the year where
Alphabet has announced a 21% Year-over-Year increase in revenue with $21.5 billion dollars moving through. This increase in revenue ‘beat the street’ with Wall Street expectations sitting at $20.76 billion. This revenue has given Alphabet a non-GAAP operating income of $5.86 billion.
Alphabet CFO Ruth Porat said of the announcement
Our terrific second quarter results, with 21% revenue growth year on year, and 25% on a constant currency basis reflect the successful investments we’ve made over many years in rapidly expanding areas such as mobile and video. We continue to invest responsibly in support of our many compelling opportunities.
Google had a bit of a slide in their ‘Other Bets’ reporting they lost $859 million there. Other Bets includes a number of businesses such as Google Fiber, Verily and NEST. Good news is that their ‘other revenues’ which includes Google Play and hardware sales saw a 33% increase.
If you’re looking to invest, Alphabet Inc. (GOOGL) closed at $765.843.87 (0.51%) but then climbed to $809.00 in after hours trading.
The big numbers for us include:
- Alphabet has $78.4 billion cash (and cash equivalents) on hand an increase of $3 billion over the end of Q1 2016.
- There’s also been an increase in employees with Alphabet listing their headcount a 66,575 employees across Alphabet, which is up from the 64,115 last quarter.
If you’d like to listen to the earnings call, you can tune in on YouTube here: