Alphabet Inc., the parent company of Google today announced financial results for the quarter ended June 30, 2016, the company beat analysts estimates
Headline revenue increased from USD17,653 billion same quater last year USD21,315 billion this year. Google, its most profitable segment saw its revenue increasing from USD5,608 billion last year to USD6,994 billion.
This is a big deal for Aphabet as the company because its Q1 revenue of USD20.26 billion missed analysts -0.5% below estimate.
Commenting on the result, Ruth Porat, CFO of Alphabet said “Our terrific second quarter results, with 21% revenue growth year on year, and 25% on a constant currency basis reflect the successful investments we’ve made over many years in rapidly expanding areas such as mobile and video.
“We continue to invest responsibly in support of our many compelling opportunities,” she said.
As expected, Alphabet’s bets in Internet of Things, IoTs, Nest, Data analytics and other ventures have started paying off. Revenue for all bets increased from USD74 million last year to USD185 million. However, the company’s loss on bets has increased geometrically from USD660 million in quarter 2 last year to USD859 million this year.
[graphiq id=”goCV6OnKY1T” title=”Alphabet Inc. (GOOGL) Stock Price” width=”600″ height=”617″ url=”https://w.graphiq.com/w/goCV6OnKY1T” link=”http://listings.findthecompany.com/l/8520977/Alphabet-Inc-in-Mountain-View-CA” link_text=”Alphabet Inc. (GOOGL) Stock Price | FindTheCompany” ]
The company has increased its cash flow from USD4,581 billion to USD6,997 this year.
Content on this site, including news, quotes, data and other information, is sourced by PageOne.ng from official and public sources and other third party content providers for your personal information only, and is not intended for trading purposes. Content on this site is not appropriate for the purposes of making a decision to carry out a transaction or trade. Nor does it provide any form of advice (investment, tax, legal) amounting to investment advice, or make any recommendations regarding particular financial instruments, investments or products.