Google parent company Alphabet posted its second quarter 2018 earnings results, reporting a quarterly revenue of $32.66 billion USD ($43.05 billion CAD).
According to a July 23rd, 2018 media release, that figure represents a 26 percent increase over Q2 2017.
Alphabet also reported a net income of $3.20 billion USD ($4.21 billion CAD), compared to $3.52 billion USD ($4.63 billion CAD) in Q2 2017.
It’s important to note that Alphabet’s income was affected by the €4.34 billion ($6.68 billion CAD and $5.18 billion USD) antitrust fines imposed against Google by the E.U.
Google’s revenues represented 32.51 billion USD ($42.80 billion CAD) of Alphabet’s overall earnings, compared to $25.91 billion USD ($34.12 billion CAD) in Q2 2017.
Additionally, Google’s advertising efforts generated $28.09 billion USD ($36.98 billion CAD) in revenue, compared to $26.01 billion USD ($34.25 billion CAD) in Q2 2017.
Google’s ‘other revenues’ — which represent the company’s cloud, Play and hardware efforts — accounted for $4.42 billion USD ($5.82 billion CAD) of Alphabet’s overall earnings.
Google’s overall operating income totalled $8.96 billion USD ($11.80 billion CAD).
Alphabet’s Q2 2018 earnings report also revealed that the company employees 89,058 employees across its entire product portfolio. That number is up from Q2 2017’s 75,606 employees.
Google stock currently sits at $1,211 USD ($1,594.53 CAD) at the time of writing.
Source: Alphabet
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