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Google is still making money despite $2.7 billion EU fine
Google parent company Alphabet just announced its financials for the second quarter of 2017, and it looks like the company took a big hit from the record fine the EU dropped on it late last month. Alphabet's total net income for the quarter came in at $3.5 billion -- that's down significantly from $4.9 billion it pulled in a year ago. However, Alphabet was quick to note that without the EU's heft $2.7 billion fine, net income would have come in at $6.3 billion. So this quarter's drop isn't about any fundamental issue in the Alphabet business, as the company doesn't expect to be paying fines like that on a regular basis.
Alphabet's experiments still lose money, but it's getting better
Alphabet, semi-new parent company to the Google we all know and love/tolerate, continues to rake in money hand-over-fist. The company just released its financial statements for Q3 of 2016, and both revenue and overall profit continues to soar. All companies under the Alphabet umbrella pulled in $22.5 billion in the quarter (up 20 percent year over year), and net income rose 27 percent to $5.1 billion.
Google's ad business continues to prop up its experimental ventures
Google's parent company Alphabet just released its financial results for the first quarter of 2016, and unsurprisingly the company continues to rake in huge amounts of cash. Revenue in Q1 of 2016 was $20.3 billion, up 17 percent year-over-year. Net income of $4.2 billion was also up a healthy 20 percent over Q1 of 2015, though unsurprisingly Alphabet's "other bets" companies continue to lose quite a bit of cash -- $802 million in the quarter, if we're being exact.
Alphabet earnings shows just how much Google's 'other bets' are losing
The newly-minted Alphabet (made up of Google proper and the variety of ventures that make up the "Other Bets" the company is involved in) has just released its first full quarter of financial data under its new structure. At a high level, Alphabet continued the growth that Google has seen over the last year or so -- the company is reporting $21.3 billion of revenue with profits of 4.9 billion. That marks an 18 percent yearly increase in revenue and a 5 percent increase in net income, both decent gains for the company. As has been the case for a number of quarters lately, the gains came on the strength of a growing mobile search business as well as YouTube and the company's "programatic advertising" business.
