Sci-tech

GOOGL) continues to beat expectations — Alphabet Inc(NASDAQ

GOOGL) continues to beat expectations — Alphabet Inc(NASDAQ

Google's shares were up 4 percent in premarket trading on Friday. After subtracting Alphabet's advertising commissions, revenue was $20.12 billion, which also beat Street forecasts.

The non-advertising revenue of Google, consisting of the Play store, Pixel smartphones, and the cloud computing business also went up dramatically by 49.4 percent in the quarter to reach $3.10 billion.

Finally, the headcount rose by almost 10,000 people as compared to the same period past year, reaching 73,992 versus 64,115.

While Wall Street was expecting earnings of $7.40 per share on revenue of $24.2 billion, Alphabet posted earnings of $7.73 per share on revenue of $24.8 billion, a 22 percent jump from the same period a year ago.

The firm reported net sales of more than 35.7 billion dollars (£27.6bn) for the three months ending March 31, up from 29.1 billion (£22.5bn) for the same period previous year. Certain advertisers have curtailed their spending until they are convinced Google can prevent their brands from appearing next to extremist clips promoting hate and violence.

It is estimated that Google will hold 61.5% of the search ad market globally for 2017, which would be up from its 60.5% during 2016, according to eMarketer a research firm.

Alphabet reported revenue of $24.75 billion, up 22 per cent versus the first quarter of 2016 and 24 per cent on a constant currency basis. Aggregate cost-per-click fell 19 percent, but aggregate paid clicks were up 44 percent from the year-ago quarter. The mobile ads command lower prices than desktop ads, but growing volume is more than making up the difference.

"We have taken it pretty seriously and we are taking significant steps", Pichai said on the call.

The Other Bets category includes Waymo, Google Fiber, Nests, Verily Life Sciences, Calico and other businesses and moonshot projects.

Chief financial officer Ruth Porat said: "Our excellent results represent a terrific start to 2017".

"(Google) is doing a good job, a much better job in diversifying revenue than Facebook is", said analyst James Wang of ARK Investment Management.

'We have streamlined efforts where it made sense and in other areas we have seen places to double down'.


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