We all know that feeling of a sumptuous bank alert, that feeling makes you not to greet your landlord in the morning. When no “economic avengers” are not blowing up the revenue pipelines feeding your bank account. Google is feeling more than this now. Things are going very well for Google at the moment, their wallets are adding pounds in weights and currency alike. Even their male workers are already picking up a figure eight from the cash in their back pocket.
Google’s parent company Alphabet has just announced its earnings for the Q3 (third quarter) of 2016. The impressive figures reveal still a juicy leap for a company of this size. Revenues for the third quarter have spiraled up to $22.4 billion. When comparing, this is a hefty climb of 20% from just 2015. Google’s net income sprang up to fresh highs far beating the $5 billion mark for this quarter.
Well in line with expectations, the main Google business was still responsible for the chunk of its the income as well as profit for the quarter. Alphabet’s “Other Bets” segments however sadly recorded a drooling operational loss of $865 million. But looking more critically at the figures, this is still a growth from the $980 million loss it had posted this same time in 2015. This implies that in exception of Other Bets, the main Google business had recorded an operating income of $6.78 billion for the 2016 Q3.
It is really lovely seeing this impressive growth figures. Sectioning what Google is typically earning, revenues from Google’s very websites had gone up 23% year-over-year to $16 billion, and then revenues accrued from advertisement had also leapt up to 18% amounting to $19.8 billion as well as the “other revenues” segment, among this is the Google Store, which went up by 39% to $2.4 billion.