Google ad business accounts for 86% of Alphabet Inc’s total revenue of $33.7 billion

APAC revenues were $5.4 billion, up 29% versus last year

e4m by exchange4media Staff
Updated: Oct 26, 2018 8:17 AM
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Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended September 30, 2018.

"Our business continues to have strong momentum globally, led by mobile search and our many products that help billions of people every day," said Ruth Porat, Chief Financial Officer of Alphabet and Google. "Alphabet revenues were $33.7 billion, up 21% versus the third quarter of 2017, and we remain focused on delivering on the opportunities we see."

Google subsidiary ad revenue at $28.9 billion accounted for 86 percent of all revenue this past quarter. Ad revenue last year in the same period was $24 billion.

U.S. revenues were $15.5 billion, up 20% year-over-year. EMEA revenues were $11 billion, up 20% year-over-year. In constant currency terms EMEA grew 19%. APAC revenues were $5.4 billion, up 29% versus last year and up 30% in constant currency. Other Americas revenues were $1.8 billion, up 19% year-over-year and up 28% in constant currency.

Operating expenses were $11.1 billion, up 26% year-over-year. Once again the biggest increase was in R&D expenses.

Speaking about APAC, CEO Sundar Pichai said, “As you can see from our results, revenue growth in APAC remains strong. This is a reflection of our very focused efforts to build great experiences for the billions of people across the region. We have adapted many of our core products like search, Maps and YouTube to work well for the next generation of users coming online.”

“We're also building products to meet the specific needs of users in the region like Tez, a digital payments app for India, to help people easily pay their electrician or split it in a bill with just a few taps. Just one year since it launched, over 30 million people in businesses across India now use the app every month and they've collectively made more than 1 billion transactions. We have recently rebranded the app to Google Pay as we look to bring many of the app's features to others around the world,” added Pichai.


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