Alphabet has seen a 22 percent revenue increase year over year for the first quarter of 2017 according to the company's latest quarterly fiscal earnings report that they just published this afternoon. All results from the earnings report are for this first quarter of the year which ended on March 31st. In addition to the increase in revenue this year which Alphabet recorded at $24.75 billion compared to 2016's $20.257 billion, they also saw a boost in their constant currency revenues year over year which is listed at a 24 percent increase compared to a 23 percent increase at the same time in 2016.
Alphabet's Ruth Porat attributes their successes in the first quarter to continued investments across their varied spread of products and services, though Google ad business is always likely going to be the bulk of the revenue and profit. Operating income for Q1 this year is recorded at a total of $6.568 billion which is a 27 percent operating margin. Last year Alphabet recorded an operating income of $5.342 billion which was an operating margin of 26 percent, so while the operating margin is only a 1 percent difference between this year and last year, that amounts to a fairly large difference when it comes to the money as it's over $1 billion.
Increases can be found across many factored areas of Alphabet's earnings, including Net Income, Diluted Shares, and Diluted Earnings per Share, with net Income showing a lift from $4.207 billion last year to $5.426 billion this year, while Diluted Shares and Diluted EPS are recorded at 702,036, and $7.73 for 2017 respectively. This is comparison to 699,311 and $6.02 in 2016. When it comes to revenues and fiscal information relating to Google specifically, the earnings report lists Google's property revenues at $17.403 billion this year, which is a boost of $3.075 billion over last year when Google recorded property revenues of $14.328 billion. Google's advertising revenues went from 18.020 billion to 21.411 billion, while Alphabet's Other Bets revenues increased from $165 million to $244 million. Alphabet's Other Bets include things that come from the companies under their umbrella, such as Nest, Verily, Calico, and others. When it comes to operating income, Google saw a lift here from $6.245 million in 2016 to $7.598 million in 2017, which is close to same amount in regards to an increase when contrasted with Alphabet as a whole, though with a larger number in both years. Overall, Alphabet seems to have had a good first quarter and it seems they're intent on continuing with this success through future quarters this year.