Alphabet by the numbers - Q1 2017 Earnings report

Alphabet by the numbers - Q1 2017 Earnings report

Google parent company Alphabet saw shares rise after beating analyst expectations for its first quarter earnings report. In fact, together they accounted for 99 percent of the growth a year ago according to a report published by Pivotal Research this week.

The Interactive Advertising Bureau released its annual report yesterday on the state of the digital ad market.

Alphabet's total revenue also grew for the period to $24.75bn, surpassing analysts' estimates of $24.22bn according to a consensus estimate from Thomson Reuters.

Alphabet Inc shares were trading at $891.44 per share on Thursday afternoon, up $2.3 (+0.26%).

Alphabet, the parent company of Google paid Sundar Pichai, a handsome amount of payment with the promotion to the post of Chief Executive Officer of the company.

Problems such as an advertiser boycott of YouTube appeared to have little impact on the company. Net income for the quarter was $5.42 billion, up from $4.2 billion past year.

Under the leadership of Sundar Pichai, Google has seen numerous successful results whether we talk about YouTube, machine learning or digital advertising, all spheres have shown profitable results.

More news: Ravens get defensive in draft, select Alabama CB Humphrey

Google is the second most valuable company in the world next only to Apple.

Despite announcing revenues of $244m - a near 50pc increase on 2016 - it still posted significant losses of $855m.

Google forms the largest part of Alphabet's business, with much of the rest of the company comprising of so-called Other Bets, which includes its more ambitious projects, such as its driverless vehicle technology business and smart thermostat firm Nest.

Ad revenues were $21.4 billion, a 19 percent increase over Q1 2015.

In his 2016 shareholders letter, Google co-founder Larry Page highlighted Alphabet's various "Other Bets" projects and noted how the creation of Alphabet as a new holding company "has helped entrepreneurs build and run companies with the autonomy and speed they need".

Alphabet is also reaping the benefits of investing heavily in areas such as hardware and cloud.Revenue from its Google Other unit, which includes Pixel smartphone, Play Store and cloud business, rose 49.4 percent to $3.10 billion.

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