Alphabet, the parent company of Google, has just released their financial reports for the first quarter of 2016 and they are impressive. Overall the company had $20.2 billion in revenue for the first three months of 2016 with an overall GAAP Income of $4.2 billion. While the company reports as a whole, the financial press release covers Google separately which is the real telling number. The bottom line is Alphabet is fundamentally Google when it comes to revenue and profits.
Looking at just Google within Alphabet, the business unit had $20.09 billion in revenue and income of $6.27 billion. The other parts of Alphabet, outlined as “Other Bets” in the financial report,
had revenues of $166 million with an operating loss of $802 million. Overall, operation costs for Alphabet were at $7.2 billion which translates to roughly 36% of revenues.
The end of the report outlines that Google has $75 billion in cash on hand which is an increase of $10 billion over this time last year and the payroll grew by 10,000 employees over the same report last year, making the Googler population just over 64,000.
Overall the report is good for Alphabet and Google in particular. Reaction to the news was met with typical mixed results from Wall Street. The company closed the day up $6.47 per share to $759.14 but after hours trading has dropped the price down to as low as $711.21.
As has become custom, Alphabet has the streaming of the financials webcast available to watch on YouTube. There you will see some of the great ads that the company has put out over this past year as well for apps like Google Photos and, of course, Android.