Alphabet has today announced their Q3 2017 earnings report with results showing revenue of $27.7 billion.
The results are better than expected, with CFO of Alphabet, Ruth Porat announcing
We had a terrific quarter, with revenues up 24% year on year, reflecting strength across Google and Other Bets. Our momentum is a result of investments over many years in fantastic people, products and partnerships.
News of the results was well received by the financial sector with Google shares up over 3% in after-hours trading.
The results for Alphabet include Google’s hardware sales, Play Store revenue and other bets in the ‘Other Revenues’ section showin $3.4 billion, an increase from $2.4 billion in the same quarter last year – this is before taking into account new devices announced at the Made by Google 2017 event which will begin showing next quarter. Those numbers are expected to be good, with Google CEO Sundar Pichai advising on the earnings call that pre-orders for Pixel 2 are double that of last year.
Interesting numbers for Google include:
- Google currently has $100.1 billion on hand in cash and cash equivalents including marketable securities.
- Alphabet increased their staffing levels with the headcount rising from 75,606 staff in Q2 2017 to 78,101 in Q3 2017.
If you’d like to view the earnings call, you can check it out on YouTube:
