advertisement
advertisement
advertisement

Alphabet destroys Q4 revenue predictions with mobile search and YouTube ads

There’s no slowing down the money machine that is Google–er, Alphabet. For the fourth quarter of 2016, the company said today that it brought in revenues of $26.06 billion, up 22% year-over-year from the $21.33 billion it reported a year ago. Revenues were also up 15% quarter-over-quarter. Alphabet said in a release that the major drivers of the revenue were mobile search and YouTube. It is not yet clear how Google’s major new products, its Pixel smartphone, and its Home smart assistant, performed. It’s probable the company will say more about that during its conference call with analysts later today.

Either way, the company out-and-out blew away analysts’ predictions for its fourth-quarter performance. They had expected the company to bring in $20.51 billion, according to Forbes. Meantime, for the quarter, Google itself accounted for $25.8 billion, fully 99% of Alphabet’s revenues. The company’s Other Bets–Nest, its X research lab, Verily, and others–brought in $262 million, up from $150 million a year earlier, but lost $1.09 billion in the process.

DT