Google Parent Alphabet Records Profit Increase

Google Alphabet

Google Parent Alphabet Records Profit Increase

It has been reported that Alphabet – Google’s parent company – has recorded a quarterly rise in profits thanks to strong advertising sales on mobile devices.

 

Revenue received between April-June 2016 reached £16.3bn ($21.5bn), marking an increase of 21.3% when compared to the same quarter during 2015. In addition, net income for the quarter jumped from $3.9bn in 2015 to $49.9bn, whilst Alphabet’s share price received an increase of 6%.

 

Impressively, this follows on from a 17% increase during the first quarter of 2016.

 

As well as performing strongly in online advertising, Google also made substantially progress in the video market, which has seen the search engine giant face the likes of Facebook and Twitter head on, as previously reported here: Why Are Twitter & Facebook Focusing on Live Events?

 

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