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Thursday, April 27, 2017
Alphabet Posts 1Q Profit


Google's parent company Alphabet Inc. on Thursday reported first-quarter net income of $5.43 billion, driven by a surge in advertising on mobiles and its popular YouTube video service.

The internet search leader posted revenue of $24.75 billion in the period, a 22% increase over the same period last year. Its adjusted revenue was $20.12 billion.

"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," said Ruth Porat, CFO of Alphabet.

Google's advertising revenue rose 18.8 percent to $21.411 billion, compared to the $18,020 billion last year for the same period.

Paid clicks, where an advertiser pays only if a user clicks on ads, rose 44 percent.

The strong results also allayed concerns about a recent controversy surrounding Youtube and its impact on Google's ad revenue.

YouTube had come under fire for ads appearing alongside videos carrying anti-Semitic messages, prompting a number of companies to suspend their digital ads on the video service.

Revenue from its Google Other unit, which includes Pixel smartphone, Play Store and cloud business, rose 49.4 percent to $3.10 billion.



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