Google parent Alphabet posts strong quarterly revenue growth
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Google parent Alphabet last night posted fourth-quarter profit below analysts' estimates, hurt by a higher tax rate.
But analysts still cheered the company's progress in diversifying its business beyond advertising.
Advertising still accounts for most of Google's revenue, rising 17.4% to $22.4 billion in the quarter.
But Alphabet's chief financial officer Ruth Porat underscored that the company is broadening its business - pointing to growth in hardware, app sales and the cloud business.
The company's other revenue, which captures such businesses, climbed 62% to $3.4 billion.
"We see tremendous potential ahead for these businesses, as well as in the continued development of non-advertising revenue streams for YouTube," Porat said.
Executives suggested that the company is beginning to reap the rewards of their investment in hardware.
Porat highlighted the company's line of Nest smart home products, saying sales doubled during the key retail period including Black Friday and Cyber Monday.
Google-branded hardware also showed promise as Google Home ,a smart speaker, and the Pixel smartphone gained traction, Google's chief executive Sundar Pichai said.
"We're committed to this for the long term as a great way to bring a beautiful, seamless Google experience to people," he said.
The company posted a stronger-than-expected 22.2% increase in quarterly revenue as advertisers spent more to reach an expanding user base that spends more time on smartphones and YouTube.
Research firm eMarketer has estimated that Google will capture $60.92 billion in search ad revenue this year, or 58.8% of the search ad market worldwide.
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But analysts still cheered the company's progress in diversifying its business beyond advertising.
Advertising still accounts for most of Google's revenue, rising 17.4% to $22.4 billion in the quarter.
But Alphabet's chief financial officer Ruth Porat underscored that the company is broadening its business - pointing to growth in hardware, app sales and the cloud business.
The company's other revenue, which captures such businesses, climbed 62% to $3.4 billion.
"We see tremendous potential ahead for these businesses, as well as in the continued development of non-advertising revenue streams for YouTube," Porat said.
Executives suggested that the company is beginning to reap the rewards of their investment in hardware.
Porat highlighted the company's line of Nest smart home products, saying sales doubled during the key retail period including Black Friday and Cyber Monday.
Google-branded hardware also showed promise as Google Home ,a smart speaker, and the Pixel smartphone gained traction, Google's chief executive Sundar Pichai said.
"We're committed to this for the long term as a great way to bring a beautiful, seamless Google experience to people," he said.
The company posted a stronger-than-expected 22.2% increase in quarterly revenue as advertisers spent more to reach an expanding user base that spends more time on smartphones and YouTube.
Research firm eMarketer has estimated that Google will capture $60.92 billion in search ad revenue this year, or 58.8% of the search ad market worldwide.
Terima kasih karena telah membaca informasi tentang Google parent Alphabet posts strong quarterly revenue growth . Silahkan membaca berita lainnya.
Google parent Alphabet posts strong quarterly revenue growth
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