Alphabet has just published Q1 2017 earnings of $24.75 billion, up 22% from the same quarter a year ago.
Under his leadership, Google's sales buoyed, especially the the core advertising and YouTube business, apart from investments in machine learning, hardware and cloud computing. FBN Securities decreased their target price on Alphabet from $1,050.00 to $1,025.00 and set an "outperform" rating for the company in a research report on Thursday, April 6th.
Paid clicks, where an advertiser pays only if a user clicks on ads, rose 44 percent. Revenue, however, continued to climb, up to $244 million this quarter compared to $165 million in the same quarter a year earlier.
The Google business (search, ads, maps, apps, cloud, Play, YouTube, Android, virtual reality, etc.) was responsible for $24.5 billion in revenue this past quarter (up from $20.1 billion last year) and $7.6 billion in profits (up from $6.2 billion last year). Despite spending billions on capital expenditures, the company still generated $7 billion in free cash flow in its most recent quarter.
US military member killed in Somalia on anti-extremist work
There was no comment from the al-Shabaab group regarding the killings of the US soldier in Lower Shabelle region. At least six Al-Shabab fighters were killed during the operation, according to the Somali military official.
Google had to do some serious damage control with agencies and advertisers after its YouTube hate speech debacle.
Alphabet's total revenue also grew for the period to $24.75bn, surpassing analysts' estimates of $24.22bn according to a consensus estimate from Thomson Reuters.
A busy night in the world of technology company financial results saw Amazon, Google's parent firm Alphabet and Microsoft all reveal their latest figures.
"We know advertisers don't want their ads next to content that doesn't align with their values", Google's chief business officer Philipp Schindler says in a blog post on March 21.
Larry Page and Sergey Brin, the co-founders of Google and now Alphabet, write a founders letter each year, recapping the advancements and changes that the company has made in the previous year.
He said the company is benefitting from efforts on artificial intelligence developed by the Google Brain and DeepMind operations. Alphabet Inc., formerly known as Google Inc., is headquartered in Mountain View, California.
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