Google’s parent company, Alphabet, today reported its quarterly earnings and once again they have increased revenue compared with last year. Q3 2015 saw them report a revenue of $18.7 billion but despite analysts predicting only $22.05 billion in revenue they have reported $22.45 billion in revenue.
Ruth Porat, CFO of Alphabet, said that there was a “20% revenue growth year on year, and 23% on a constant currency basis” with mobile search and video once again leading the way. Alphabet’s “Other Bets” which is everything that was broken apart from Google such as Nest, Fiber etc had more revenue than the same period last year earning $197 million (up $56 million on 2015). The losses for “Other Bets” was less than last year at $865 million — which is possibly one reason why they were broken away from Google itself. Google Play earned $2.4 billion in revenue with the overall result being a $5.1 billion net revenue for Alphabet.
Alongside the earnings announcement Alphabet has announced a stock repurchase, authorised by their board of directors of up to $7,019,340,976.83 of its Class C capital stock.
The bottom line is that it was a big quarter for Alphabet and with their recent purchases and announcements are obviously hoping to continue that in the next quarter.