Alphabet records $26.06 billion in revenue, $5.3 billion in net income for Q4 2016


Alphabet

Google’s parent Alphabet has announced financial results for Q4 2016. The company has recorded $26.06 billion in revenue and $5.3 billion in net income. The company reported $22.4 billion in revenue and $5 billion in net income last quarter.

The majority of Alphabet’s revenues came from its Google division, which brought in $25.8 billion in the fourth quarter, up from $21.2 billion from a year ago. The company’s “Other Bets” which includes Google Fiber, home automation products Nest, self-driving cars and X – the research division recorded

Ruth Porat, CFO of Alphabet said,

Our growth in the fourth quarter was exceptional — with revenues up 22% year on year and 24% on a constant currency basis. This performance was led by mobile search and YouTube. We’re seeing great momentum in Google’s newer investment areas and ongoing strong progress in Other Bets.

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Author: Sneha Bokil

Sneha Bokil is a tech enthusiast and is currently using Nexus 5X but she still treasures her Nokia N70 (M). You can follow her on Twitter @snehabokil and on Google+