Alphabet, the parent company of Google, announced their second-quarter results. The company’s revenues and earnings per share beat Wall Street consensus estimates. But on the down side, the recent EU antitrust fine of $2.7 billion took a toll on net income and earnings.
Alphabet reported just over $26 billion in total revenues (up 21 percent) with Google contributing all but $248 million of that amount. $22.7 billion was generated in advertising in quarterly revenue. Not surprisingly, both mobile search and YouTube were the big contributors to growth. Ruth Porat, the CFO of Alphabet, spoke during the earnings call several time about a “secular shift” to mobile search.
According to Google, it had just over 75,600 employees at the end of the quarter. New hires were “mostly engineers and product managers.”
Here’s the revenue breakdown by segment:
- Google properties: $18.4 billion
- Google network: $4.2 billion
- Google “other revenues”: $3.1 billion
- Other bets: $248 million
Source – Greg Sterling