Friday, 29 July 2016

Google parent Alphabet reports strong $21.5B in revenue for Q2 2016

Alphabet has announced financial results for Q2 2016 (April to June) that beats analysts' expectations. The parent company of Google reported $21.1 billion in revenue, up 21.3 percent YoY, compared to $17.6 billion during same quarter a year ago, beating Wall Street's $20.76 billion in revenue expectation.

The net income stood at $4.9 billion, up 24 percent, compared to $3.9 billion during the same quarter last year.

Alphabet's "Other Bets" which includes project like Google Fiber, Nest Thermostats, science initiatives Calico and Verily, and Self Driving cars and X research divsion reported revenue of $185 million for the quarter.

Alphabet's advertising revenue were up 19.5 percent to 19.14 billion. Aggregate paid clicks were up 29 percent from the same period last year, with paid clicks on Google website going up by 37 percent year-over-year.

Google's CEO Sundar Pichai during the quarterly conference call revealed that the company sold over 30 million units of Chromecast media casting devices. To recall, in May Google revealed that it sold 25 million Chromecasts, which means 5 million units more were sold in last two months.

Source 1 | 2

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