Alphabet, the parent company of Google, has released their Q2 2017 financial report and it is, in a word, impressive. The company had earning of $26.01 billion US for the quarter, up some 21% over the same quarter in 2016. This beat analyst expectations which had pegged earnings at just over $25 billion.
Operating income was down to $4.132 billion with an overall operating income margin of 16%. Both of these were down from the same quarter in 2016. Net Income was down to $3.54 billion for the quarter.
Breaking the report down further, Google properties were their normal lion share of the income. Google revenues were up to $18.425 billion for the quarter while advertising revenue was up to just over $22 billion. Google’s operating income was up to $7.803 billion for the quarter, up from $6.990 billion in the same quarter of 2016.
Google’s “Other Revenues” was up to $3.09 billion for the quarter, up from $2.17 billion a year ago. This section of the financial report is where numbers for Google Pixel, Google Home, the Play Store and enterprise endeavors are lumped together. There is no specific breakdown provided for each product lineup in this section.
Finally, the “Other Bets” section is continuing to lose money but it is getting better. Operating Losses were at $772 million for this quarter, a healthy drop from the same quarter in 2016 where the loss was pegged at $855 million. Alphabet did have $284 million in revenue from this section, mostly from Nest, Google Fiber and Verily.
Overall the financial report did reflect the record $2.7 billion European Commission fine that was levied against the company during the quarter.
The Alphabet Q2 2017 Earnings call is slated for a 2:00 PM Pacific start today and you can watch it on YouTube below.