NEWS29 July 2016

Google revenue up 21% to $21.5bn

AI Financials Media Mobile News North America Technology

US – Alphabet, Google’s parent company, reported revenue of $21.5 billion, up from $17.7bn, and earnings up $4.88 billion in its latest financial results for Q2 2016.

Its ad revenues rose 19.5% to $19.14bn and saw a 29% rise in aggregated paid clicks. On Google websites paid clicks increased 37%.

The results appear to show that the company is addressing concerns about how it was managing the move to mobile when previously it had relied on desktop search traffic.

Its CEO Sundar Pichai said the company was using artificial intelligence to improve video recommendation to users. "Video is a huge component of digital content, and YouTube continues to shine. It’s a thriving home for creators," he said.

Ruth Porat, chief financial officer at Alphabet, said: "Our terrific second quarter results reflect the successful investments we've made over many years in rapidly expanding areas such as mobile and video. We continue to invest responsibly in support of our many compelling opportunities."