Alphabet—Google’s parent company—delivered net income of $6.66 billion on revenues of $36.3 billion for the quarter ending March 31. But the results were underwhelming to investors, and they were further burdened by an EU antitrust fine of almost $1.7 billion.
“We delivered robust growth led by mobile search, YouTube, and Cloud, with Alphabet revenues of $36.3 billion, up 17 percent versus last year,” Alphabet Chief Financial Officer Ruth Porat said. “We remain focused on, and excited by, the significant growth opportunities across our businesses.”
The issue for Alphabet, of course, is that its non-Google businesses are just that: Opportunities. And all of them continue losing money: Alphabet reported that its “other bets” delivered a quarterly operating loss of $868 million on revenues of just $170 million.
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Google, of course, is going strong: Its advertising business generated $30.7 billion in revenues in the quarter, up from $26.6 billion a year ago. Advertising accounted for 84.5 percent of Google’s revenues. A year ago, it was 85.5 percent. Google is the world’s biggest seller of online ads and it accounts for one of every three ads viewed online.
And while it isn’t a big business for Google, the firm did mention that its smartphone operations encountered “year over year headwinds,” meaning that it sold fewer handsets than it had in the year-ago quarter. The firm expressed hope that future innovations, like 5G and folding handsets, would jumpstart sales in the future. And it pointed to the success of Google Assistant-enabled smart home devices.
“We see strong momentum,” Google CEO Sundar Pichai said.
PeterC
<p>The USA – China trade and security “ding dong” will not play out well for google, android or google services. A resurgent Microsoft is starting to camp out in what google sees as its territory. Apple whilst expensive still do better hardware software integration and are also protecting its users base through developing services and are already moving out of China to India. Legal anti trust and anti competition cases will mount for google as will copyright/platform legal cases. </p><p><br></p><p>The list could go on and on….. they will fight on every front, but they can’t win on every front. </p><p><br></p><p>Its hilarious but but after all these tech years and billions of investor cash thrown at the wall by all of the companies to become dominant…… Microsoft will remain the windows and office company, google the search and services company, Apple remains its own software hardware design company etc etc etc. </p><p><br></p><p>Buy hey, they’ve all built fancy pants offices around the world and wear trendy trainers. Winning! </p>
Stooks
<p>Google is a one trick pony when it comes to revenue. (AD sales)</p><p><br></p><p>Their other products are nothing but tools to gather information to feed the AD business. </p><p><br></p><p>I use YouTube with ad blockers and Maps on my iPhone. </p>
dontbe evil
<p>bauhauahuauahauauahua</p>