Google' s parent Alphabet report 17% rise in quarterly revenue
Alphabet (Google’s parent company) has reported a huge 17% rise in quarterly revenue after big advertising sales on mobile devices.
Revenue rose to $20.26bn (£14bn) between January and March, from $17.26bn a year earlier. Net income for the quarter was $4.2bn, up from $3.5bn a year ago.
Ruth Porat (CFO at 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 great position for the future.
Google created a new parent company – Alphabet last year in a bid to reorganise the organisation. Under the new structure, Google retained its most well-known businesses, such as search, apps, YouTube and Android. Some of the newer businesses, such as the investment & research divisions and Nest will be run under Alphabet.