Google has just posted its third-quarter earnings.
Actually, we should say Alphabet did. Although Google is now part of a larger holding compant called Alphabet, we still get to peek at Google's finances. Unfortunately, however, Google is currently hiding numbers for some of its businesses, including Google X and Life Sciences, but we did learn a bit about mobile search and advertising.
Starting off with the general financial stuff...Alphabet reported revenue of $18.67 billion (a 13 per cent increase year over year) and a profit of $4.7 billion (a 27 per cent increase year over year). The company's stock spiked 10 per cent in after-hours trading, though that's largely due to the company announcing it would buy back about $5 billion in stock.
As for Google's web searches on mobile, Alphabet said its strong quarter results were attributed to "substantial growth of mobile search revenue, complemented by contributions from YouTube and Programmatic Advertising." Analysts and investors likely wanted to hear more details about search activity within apps, but Google stayed mum.
It did divulge specifics for how much it earned on each advert, though. Cost per click fell 16 per cent from the same period last year, even though overall clicks grew 23 per cent. The other bits analysts wanted to know more about include YouTube revenue and income and sales from Google Play and hardware.
Again, Google didn't give too much away. An "other revenue" category in its earnings report, which covers Play Store and Google's own hardware, reflected a growth of 11 per cent year over year, meaning it accounts for a little more than 10 per cent of the total revenue this quarter.
Tune into Alphabet's conference call at 1:30 pm PST to hear company executives discuss the earnings in detail.
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