Google Hardware Sales Double, Revenues Up 38%
Despite Alphabet’s disappointing quarterly earnings result, Google has revealed its “other revenues” segment – including hardware – notched a 38% YOY increase in 2017.
Sundar Pichai, Google CEO, affirms that in Q4 hardware sales more than doubled, compared to the corresponding period last year.
For the quarter Google’s “other revenues” category notched US$4.69 billion.
In addition to its hardware family, the segment concerns cash collected from Play Store, YouTube Red and Google cloud offerings.
Pichai is reportedly pleased with the sales of Google’s smart speaker range, however, exact sales figures have not been released.
Google’s hardware family includes its Pixel smartphones, Google Home & Mini smart speakers and Chromecasts.
The company has disclosed it has US$100.8 billion cash and cash equivalents (including marketable securities).
Parent company, Alphabet, attributed its Q4 US$3 billion loss to a “one time transition tax” on “accumulated foreign subsidiary earnings and deferred tax impacts” totaling US$9.9 billion.
Despite posting a loss, for the quarter Alphabet nabbed US$32.3 billion in revenue, a 24% YOY increase.
For 2017, Alphabet notched a net income of $12.7 billion. Yearly revenues increased 23% to US$110.9 billion.