Alphabet revenues leap 24% to USD 27.77 bln in Q3

News General Global 27 OCT 2017
Alphabet revenues leap 24% to USD 27.77 bln in Q3
Alphabet, the parent company of Google, has recovered from the hit it took in the second quarter after the European Commission imposed a competition fine of USD 2.7 billion. The company is now reporting third quarter net profit up to USD 6.73 billion from 5.06 billion the year before and revenues lifting 24 percent from the year before to 27.77 billion, with diluted earnings per share going higher to 9.57 from 7.25. CFO Ruth Porat, attributed the strong quarter to strength across Google and “other bets”. 

Revenues at the Google segment advanced grew by 21 percent to USD 27.47 billion with the operating profit rising to USD 8.74 billion from 6.77 billion. Revenues at 'other bets' went up to USD 302 million from 197 million with the operating loss narrowing somewhat to USD 812 million from a loss the year earlier of 861 million. Advertising revenues were also strong, going higher to USD 24.06 billion from 19.82 billion.

Alphabet's capital expenditure increased to almost USD 3.54 billion in the quarter from 2.55 billion the year before. Alphabet ended the quarter with over USD 100.14 billion in cash and equivalents at the end of September, up from 94.7 billion at the end of June. Headcount also continued to grow, passing passing 78,100 from 75,600 at the end of the previous quarter. 

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General

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European Commission,  Google,  Alphabet

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Global

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Sales figures, Financial figures

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