Google Traffic-Cost Worries Fade Away As Long As Earnings Beat

02 May, 2017, 23:27 | Author: Lorena Waters

But Google's results showed that controversy was little more than a speed bump for the company as revenue rose 22.2 per cent to United States dollars 24.75 billion from USD 20.26 billion in the quarter ended March 31. All this led to an extremely impressive EPS (Earnings per share) of $7.73.

The company saw a rise of 5 percent in its shares and the broad Nasdaq Composite Index increased 10 percent.

Together with Facebook, Google continues to slurp-up the lion's share of online advertising spending globally, pulling in $21.4bn in the first quarter - more than 86 per cent of its total revenues. Its net income rose from $4.21 billion to $5.43 billion.

The firm reported net sales of more than 35.7 billion dollars (£27.6bn) for the three months ending March 31, up from 29.1 billion (£22.5bn) for the same period past year.

Beat earnings estimates. The company reported diluted earnings of $7.73 per share, surpassing the Zacks Consensus Estimate of $7.48 per share. Net income came in at $19,478 million previous year (2016) and estimated at $23,062 million for 2017.

"YouTube revenues continue to grow at a significant rate, driven primarily by video advertising", Alphabet Chief Financial Officer Ruth Porat said during an earnings call. In 2016, more than 88 percent of Google's $89.7 billion in revenue came from advertising.

Bucks throttle Toronto, grab 2-1 series lead
The Bucks managed a mere 35 points after intermission, which is nearly as poor a half as the Raptors' pitiful first in Game 3. The Bucks have also received tremendous play from their pair of rookies, Malcolm Brogdon and Thon Maker .

Operating income came in at $6.568 billion for the quarter, while operating margin was 27%, both showing increases from the first quarter of fiscal 2016.

Alphabet's other businesses such as its Verily Life Sciences, Google fiber, and Nest has overall been able to generate around $244 million during the fourth quarter of 2016 up by $165 million or 48% from the first quarter of 2016. This change resulted in a modest increase in paid clicks and a decrease in cost-per-click.

"We'll have much more to say at IO next month", says Pichai, hinting at new announcements at Google's upcoming developer's conference in May.

Pichai's base pay was $650,000 and in addition to that, he received stock award for $198.7 million, taking the total compensation to an enviable number.

Alphabet's drive for diversification also includes its "Other Bets" business, considered the company's loss-making arm.

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