Alphabet – Google’s parent company – has reported a 17% rise in quarterly revenue after strong advertising sales on mobile devices.<\/p>\n
Revenue rose to $20.26bn (\u00a314bn) between January and March, from $17.26bn a year earlier.<\/p>\n
But Alphabet’s share price fell about 6% in after-hours trading, as the revenue figure fell short of analysts’ expectations.<\/p>\n
Net income for the quarter was $4.2bn, up from $3.5bn a year ago.<\/p>\n
The earnings report came one day after the European Commission issued formal antitrust charges against Google over claims that it abuses the dominant market position of its Android operating system.<\/p>\n
Google’s advertising revenue jumped 16.2% in the first quarter to $18.02bn. The company said the number of ads, also known as paid clicks, jumped 29%.<\/p>\n
But the average price of online ads, known as cost-per-click, fell 9% in the quarter.<\/p>\n
‘Big bets’<\/strong><\/p>\n Ruth Porat, chief financial officer at the parent company Alphabet, said the first quarter results represented a “tremendous start to the year”, and that the company is “thoughtfully pursuing big bets and building exciting new technologies” which she hopes will put the company in a good position for long term growth.<\/p>\n Google embarked on a restructuring drive late last year and created a new parent company – Alphabet.<\/p>\n Under the rebranding, Google retained its best-known businesses, such as search, apps, YouTube and Android. Some of the newer entities, such as the investment and research divisions, the “smart-home” unit Nest, and the drone arm will be run under Alphabet.<\/p>\n –<\/p>\n Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":" Alphabet – Google’s parent company – has reported a 17% rise in quarterly revenue after strong advertising sales on mobile devices. Revenue rose to $20.26bn (\u00a314bn) between January and March, from $17.26bn a year earlier. But Alphabet’s share price fell about 6% in after-hours trading, as the revenue figure fell short of analysts’ expectations. Net […]<\/p>\n","protected":false},"author":14,"featured_media":208589,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[106],"tags":[],"class_list":["post-208587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/208587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=208587"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/208587\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/208589"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=208587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=208587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=208587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}