Alphabet Inc has announced financial results for the first Quarter, 2017. The company generated revenues to the tune of $24,750 million, marking an increase of around 4,000 million over last year’s $20,257 million. This marked an year over year increase of around 22 percent. Overall, the Google parent appeared to have had a good quarter, whereas many of its peers had slow ones.
Speaking on the topic, Ruth Porat, CFO, Alphabet said:
Our excellent results represent a terrific start to 2017, with revenues up 22% versus the first quarter of 2016 and 24% on a constant currency basis. We clearly continue to benefit from our ongoing investments in product innovation and have great momentum in our new businesses across Alphabet.
The company reported an operating income of around $6.56 Billion, with an impressive margin of 27 percent. Net income stood at $5.4 Billion. All this led to an extremely impressive EPS (Earnings per share) of $7.73. Last year, this figure stood at $6.
On breaking down the revenue, we can see that a significant portion came from Google’s advertising operations. The company generated $21 Billion as advertising revenues — a jump of over $3 Billion. The company showed an iperating income of $7.5 Billion, while Alphabet’s other bets exhibited operating losses t the tne of $856 Billion.
Traffic acquisition costs stood at $4.5 Billion, around 22 percent of Google’s total advertising revenues. All this information is non-GAAP. Meanwhile, Google has been impressive as usual, while Alphabet’s other bets still came up with losses. Indeed, these losses increased by around $10o million year over year.
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