The year is looking bright for Google. Despite being slapped with a $1.7 billion fine by the European Commission for its "abusive" advertising prices last month, the company still made a a ton of money in the first quarter of 2019. It didn't make as much money as it did in the last quarter, though, pulling in $36.3 billion in revenue compared to the record $39.2 billion it earned in Q4 2018.
The EC fine did make a dent in Alphabet's net income though, with the number dropping to $6.6 billion with the fine taken into account, compared to the $8.3 billion it would be without. That's a few hundred million less than Q4 2018, when Alphabet made $8.9 billion.
Of note is the fact that Google's earnings from its "Other Revenues" continues to grow from last year. This counts the money it makes from hardware like the Pixel phones and Home connected devices, and is at $5.4 billion this quarter compared to $4.3 billion the same period last year. It represents a slowdown from Q4 2018, though, when Other Revenues came in at $6.5 billion.
Still, Google continues to rake in money from its advertising business, making $30.7 billion this quarter. That's a nice increase from the $26.6 billion from the same quarter last year.
As before, Alphabet's "Other Bets" segment -- that is, its non-Google businesses -- incurred hundreds of millions of dollars in losses. This year, Other Bets lost $868 million, compared to the $571 million loss from the same period last year.
Alphabet just started its quarterly earnings call, and we're listening for more details and insight as to whether hardware and services drove success for the company this quarter, as well as what we can expect in the rest of 2019.
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Source: Alphabet
via engadget.com
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