It notched $21.5 billion in revenue, a gain of 21 percent versus this same period previous year.
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Net income for the quarter was $4.9bn, up from $3.9bn a year ago. Last quarter, for example, Other Bets saw revenue more than double, to $166 million, but simultaneously generated an operating loss of $802 million.
After upcoming financial results, all eyes will be on the outlook or guidance for the next reporting quarter (September 2016).
Alphabet Inc.is engaged in technology business. Analysts, on average, predict Alphabet Inc.to earn $8.34 in earnings per share (EPS) on revenue of $20.76B.
Shareholders in Google/Alphabet (NASDAQ:GOOG) will be hoping that the internet giant doesn’t miss expectations for the second quarter in a row when it reports its second-quarter results on July 28. Google’s products chief, Sundar Pichai, became CEO of Google, while company co-founder Larry Page became CEO of Alphabet. YouTube’s billion-strong user base is spending more time watching videos on the platform in recent quarters, according to Morgan Stanley, which will translate into more ad dollars for Google.
The company said aggregate paid clicks increased 29 percent year-over-year and 7 percent from last quarter.
Granted, investors will keep a close eye on Google’s cost-per-click of each ad as a proxy for mobile ad health.
Now it’s Google parent Alphabet’s chance to turn heads on Wall Street and top analysts’ profit forecast and push stock prices higher.
Alphabet’s category called “Other Bets” – which includes more risky projects like Google X, Calico, Life Sciences, and self-driving auto development – posted revenue of $185 million on an operating loss of $859 million.
At $21.3 billion in earnings, Google still comprises the majority of Alphabet’s revenue.
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Cost controls have also been a recent focus since the arrival of former Morgan Stanley executive Ruth Porat as finance chief past year. He expects a 2% year over year increase in Google Network Websites, bringing it to $3.7 billion, and a 24% increase in Google Other revenues. Investors cheered Ms. Porat’s hire, hoping she would step up scrutiny of Alphabet’s costs.
