Alphabet Beats Revenue Forecast Amid Rising Costs
Revenue for Alphabet, the owner of Google and YouTube, rose 21 percent to A$32.75 billion in the second quarter ended on June 30, beating analysts’ average estimate of $25.65 billion.
But net income fell to $3.52 billion, in part reflecting a record $2.7 billion anti-trust fine announced last month by the European Union, along with a 28 percent rise in the cost of revenue.
Google’s largest money spinner, ad revenue, rose 18.4 percent to $22.67 billion. Paid clicks rose 52 percent, compared with 44 percent in the first quarter.
Revenue from its Google Other unit, which includes the Pixel smartphone, Play Store and cloud business, rose 42.3 percent to $3.09 billion.