It’s that time of the year again where GoogleAlphabet announces how the old financials are doing, and in the words of Gordon Gecko, ‘Business is Good’.
In the first quarter of 2017, Google has reported revenues of $24.75 billion, a 22% increase over this time last year. That figure beat the projected figure, which gave Google a nice boost in after hours trading with their stock up 4.27% in after hours trading.
Ruth Porat, CFO of Alphabet, said of the results:
Our excellent results represent a terrific start to 2017, with revenues up 22% versus the first quarter of 2016 and 24% on a constant currency basis. We clearly continue to benefit from our ongoing investments in product innovation and have great momentum in our new businesses across Alphabet.
Google’s main source of ad-revenue, advertising, saw a drop of 19% in aggregate cost-per-click. Their ‘other bets’ which include such things as moonshot lab: X, self-driving car project Waymo and home-automation company Nest saw revenue of $244 million, but also saw them lose $855 million but this was down from the more than $1 billion they lost last quarter.
‘Other Revenues’, which seems to be where Alphabet includes Google Play, Enterprise and also hardware like Pixel saw earnings of just over $3 billion, an increase from last quarters $2 billion.
Some interesting numbers for Google include
- Google currently has $92.4 billion on hand in cash and cash equivalents including marketable securities.
- Alphabet increased their staffing levels with the headcount rising from 72,053 staff in Q4 2016 to 73,992 in Q1 2017.
Alphabets earnings call is currently available on YouTube if you’re interested in learning more:
