Alphabet reports $21.5 billion in revenue for Q2 2016
Alphabet — Google’s parent company announced about a year ago — just reported their quarterly earnings for Q2 2016. Alphabet CFO Ruth Porat told investors the company is seeing 21% revenue growth (year on year) with $21.5 billion in revenue ($8.42 a share). This is actually up from Wall Street expectations of $20.76 billion ($8.04 a share).
Google’s core business makes up the majority of their earnings, with $17.53 billion and $185 million for their “other bets” projects like Google Fiber, Nest, and Verily. Google also saw a 33% increase in its “other revenues” which includes the Google Play Store and hardware sales. You know, their non-ad business.
[Alphabet]