Google parent company Alphabet has today announced the results of their 2nd quarter for 2017, and despite a looming $US2.7 billion fine from the EU, business is doing very well.
In the second quarter of 2017, Google has reported revenues of $US26.01 billion which beat the expected revenue of $US25.64 billion. This is a 21% increase over the second quarter of 2016, says CFO of Alphabet Ruth Porat. Ms Porat went on to say ‘we’re delivering strong growth with great underlying momentum, while continuing to make focused investments in new revenue streams’. The increased revenue announcement wasn’t reflected in after hours trading with Google stock dropping 3.13% to $967.02USD per share.
Google’s main source of ad-revenue was down, with cost-per click dropping 26% from the same time a year-ago. If you’re more interested in the more Androidy side of things, things such as Play Store revenue, Google Home/Pixel etc. are bundled under ‘Other Revenues’ and this is up over last year with Google reporting $3.09 billion as compared to $2.17 billion from Q2 last year. This does seem to be around the same as last quarter which saw just over $3 billion so business is steady if not growing.
Some other interesting numbers for Google include
- Google currently has $94.7 billion on hand in cash and cash equivalents including marketable securities.
- Alphabet increased their staffing levels with the headcount rising from 73,992 staff in Q1 2017 to 75,606 in Q2 2017.
Alphabets earnings call is currently available on YouTube if you’re interested in learning more: