Alphabet/Google’s Profit Soars 21 Per Cent
Alphabet, Google’s parent company, has reported its fastest growth rate in two years as companies bought more ads on its search engine and other products, plus users clicked more on those ads.
Alphabet revenues rose 21 per cent to $US21.5 billion in the second quarter over a year prior. Excluding payments to advertising partners, revenue was $US17.5 billion.
Net profit for Alphabet rose to $US4.88 billion, or $US7 a share, from $US3.93 billion, or $US4.93 a share, a year prior. Excluding certain items, Alphabet earned $US8.42 a share, beating analysts’ estimates of $US8.04 a share.
In a statement, Alphabet chief financial officer Ruth Porat said the results “reflect the successful investments we’ve made over many years in rapidly expanding areas such as mobile and video. We continue to invest responsibly in support of our many compelling opportunities.”
Porat said the gains were from “increased use of mobile search by consumers, benefiting from our ongoing efforts to enhance the mobile search experience.” She also cited “solid growth in desktop and tablet search as well as continued strength in YouTube and programmatic advertising.”
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