Alphabet posts Q1'17 revenue of $24,750 million on back of robust ad revenues
Google’s parent company Alphabet posted its Q1’2017 results last week on Thursday. Quite unsurprisingly, ad revenues through Google continue to form a more than significant chunk of Alphabet’s overall revenues. The company stated that its Q1’17 revenue increased 22 per cent over Q1’16 to reach $24,750 million. Google ad revenues stood at $21,411 million, with analysts calling it Google’s second strongest quarter ever.
Overall, Google operating income stood at $7,598 million for Q1’17.
"Our excellent results represent a terrific start to 2017, with revenues up 22% versus the first quarter of 2016 and 24% on a constant currency basis. We clearly continue to benefit from our ongoing investments in product innovation and have great momentum in our new businesses across Alphabet," said Ruth Porat, CFO of Alphabet.
Alphabet said that Google refined their methodology for paid clicks and cost-per-click in Q1’17 to include additional categories of TrueView engagement ads and exclude non-engagement based trial ad formats. “This change resulted in a modest increase in paid clicks and a modest decrease in cost-per-click,” said the company in a statement.
Speaking at the Q1’17 earnings call, Google CEO Sundar Pichai said search will remain the heart of the company’s mission to bring data to everyone. “We remain laser focused on making search even better,” he said.
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