You may remember one of the more interesting news reports which came through a couple of months ago. This was the transition of the Google the world knew, to the Alphabet that the world will now get to know. At the time, the reasoning behind the move was somewhat lacking in understanding, although, it did become clear that while some elements of Google’s ecosystem would see change, others would effectively not. Either way, from an operating standpoint, Google is now Alphabet and today is the first indication of how Google (under Alphabet) is now doing.
Alphabet has today released their first (as Alphabet) quarterly results for Google. This is relevant to the third quarter of the year, the period which ended on September 30th and prior to the restructuring which took place on October 2nd. In terms of the results, Alphabet’s announcement notes revenues for the period, equaled $18.7 billion (along with a profit of 4.7 billion). This equates to a 13-percent revenue growth year over year. Compared to the last quarter, this is also a significant increase in which the revenues for Q2 for Google came in at 16.5 billion. It had been expected that Google would see an increase in this quarter and generally speaking, the growth noted seems to be in line with what the expectations from analysts.
In particular, Alphabet has announced today that Google saw “substantial growth” in mobile search revenue. As this is Google’s biggest and most lucrative market, this will be good news, although how much that ‘substantial growth’ is in line with expectations, for its number one revenue, will become clearer as today’s news and figures are digested. According to Ruth Porat, CFO of Alphabet and Google. “Our Q3 results show the strength of Google’s business, particularly in mobile search. With six products now having more than 1 billion users globally, we’re excited about the opportunities ahead of Google, and across Alphabet” Google did also make a point that the mobile search revenue was “complemented by contributions” from YouTube and Programmatic Advertising. Those interested can read the full results by heading through the source link below.