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Alphabet’s Profits Soar By 43% Year on Year

Alphabet – the parent company of Google – has just released the quarterly results of the financial results which show that the company still gets most of its revenue from advertising despite the fact that it has several subsidiaries and "larger ambitions".

Most of the parent company's revenue is generated by Google, while the other projects – called "Other bets" in the financial statements – grow much slower in comparison.

Alphabet made $ 150 million from other bets and a whopping $ 26.6 billion from ads – $ 31.1 billion in total. This is 26% higher than in the same quarter last year, which is the strong growth in sales & # 39; and reflects the global momentum of the company.

In addition, the company has also earned $ 4.3 billion from & # 39; Other Revenues & # 39 ;, which is an income from YouTube Red and Google Drive subscriptions, Play Store sales and hardware sales.

Hardware extension

Sundar Pichai, the CEO of Google also said that their smart housewife "has sold more devices in 2017 than the previous two years together." In addition, the other paid services, including Cloud and G Suite services, also profitable and growing constantly.

Altogether Alphabet achieved $ 9.4 billion in net profit this quarter, which is about 43% higher than the same quarter last year.


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Other plans

Google is easy ex his activities in different sectors. In 2016, it launched its own smartphone brand, the Google Pixel series, and also entered the VR headset market by revealing Daydream headsets.

The company is expected to rely less on ad revenue in the future and plans to expand its "other betting" area.

You can view the consolidated financial statements of Alfabet for this quarter here.

The post Alphabet’s Profits Soar By 43% Year on Year appeared first on News Doses.



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