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Google's parent Alphabet had a 22 percent rise in revenue for Q1 2017

Google's parent company Alphabet announced earnings for the first quarter of 2017, with a 22 percent rise in revenue compared to the same period a year ago.

Published onApril 27, 2017

Many people may still not know that Google is technically part of a parent company, Alphabet, which was formed in October 2015. Today, Alphabet announced its financial earnings for the first quarter of 2017, and it said it had revenues of $24.750 billion, up 22 percent compared to the $20.257 billion it generated in the same time period a year ago.

Alphabet also recorded net income of $5.426 billion for the quarter than ended on March 31, up from $4.207 billion from a year ago.

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As usual, the vast majority of Alphabet’s revenues came from its Google division, which brought in $24.506 billion in revenue in the first quarter, up from $20.092 billion from a year ago. All of Alphabet’s other businesses, which include Google Fiber, its Waymo self-driving car team, the Nest smart home products, and others are listed in the the “Other Bets” section of the company’s financial results.

The good news is that those divisions generated a combined total of $244 million in revenue for the quarter, up from $165 million from a year ago. The bad news is that “Other Bets” recorded losses of $855 million for the quarter, more than the $774 million in losses that were generated a year ago.

As usual, the vast majority of Alphabet’s revenues came from its Google division,

Alphabet also broke down Google’s own revenues for the first quarter, revealing that it generated a total of $21.411 billion in revenues in ads from websites and from its Network Members sites, which is up compared to the $18,020 billion it got a year ago.

The Google division lists the money it gets from its non-search products in its “Other revenues” section. That includes money from the Google Play Store and the company’s many hardware products like the Pixel and Pixel XL phones, the Daydream View VR headset, the Google WiFi routers, the Chromecast Ultra streaming dongle, and the Google Home speakers, all of which launched in the fourth quarter of 2016. Today’s numbers show revenues from those products had an overall total of $3.095 billion for that quarter, up from $2.072 billion that was recorded from that part of the company a year ago.

Google still has not revealed any specific sales numbers for any of its hardware products, including the new Pixel phones. The company had to deal with major supply problems for those phones in the early part of 2017, although it looks like some of those issues have improved. A quick look at the Google Store site shows that both the 32 GB and 128 GB models of the Pixel and Pixel XL are available for immediate shipment, although some colors are still not available.

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