testsetset
It’s been one whole year since Google first reported earnings as Alphabet, its new-ish parent company.
Today, the umbrella company announced $22.45 billion in revenue (including traffic acquisition costs) and $9.06 earnings per share (non-GAAP) for its third 2016 quarter. Analysts had expected less: $22.05 billion in revenue and $8.64 earnings per share. Last year (Q3 2015), Google reported revenue of $18.7 billion in revenue and $7.35 earnings per share.
When compared to last year, Alphabet’s “Other Bets” drove a bit more revenue and lost a bit less money during Q3 2016. The group — basically everything except Google (think: Nest, Fiber, etc) — saw revenues of $197 million (last year: $141 million), and losses of 865 million (last year: $980 million).
In its earnings announcement, Alphabet also announced it would repurchase up to $7.02 billion in stock.
June 5th: The AI Audit in NYC
Join us next week in NYC to engage with top executive leaders, delving into strategies for auditing AI models to ensure fairness, optimal performance, and ethical compliance across diverse organizations. Secure your attendance for this exclusive invite-only event.
In regular trading today, Alphabet stock closed down by about half a percent. After hours, the company was trading up by about one percent.
This was a big quarter for Google. The company announced its first smartphone, the Pixel; bought Apigee for $625 million; reorganized its cloud services under the “Google Cloud” name; killed Project Ara; paused Fiber expansion; unveiled a digital whiteboard; and started rolling out its latest version of Android.
