Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
The service ties in with tech giant's delivery arm Google Express, whose US retailers include Costco, Whole Foods Market and Walgreens

Technology

Mobile and video pump profit at Google parent Alphabet

 Google shares rose about 1.5 percent to $830 in after-market trades that followed release of the earnings figures

Google shares rose about 1.5 percent to $830 in after-market trades that followed release of the earnings figures

SAN FRANCISCO, US, 28 Oct – Google parent Alphabet on Thursday reported its quarterly profit climbed 27 percent to $5.1 billion, boosted by mobile and video advertising revenue.

Total revenue in the recently ended quarter was $22.5 billion, up from $18.7 billion in the same period a year earlier.

Shares rose about 1.5 percent to $830 in after-market trades that followed release of the earnings figures.

“We had a great third quarter,” Alphabet chief financial officer Ruth Porat said in the earnings release.

“Mobile search and video are powering our core advertising business and we’re excited about the progress of newer businesses in Google and Other Bets.”

It has been about a year since the California internet titan revamped its corporate structure, making the Google internet operations a division of Alphabet and putting units such as autonomous cars and internet service balloons in an “other bets” category.

The self-driving car effort that was once part of the X lab at Google devoted to bold, futuristic projects has become a separate business unit at Alphabet but little has been revealed of its plans for going to market.

The loss reported from Other Bets in the recently ended quarter was $865 million as compared with $980 million in the same period a year earlier.

Meanwhile, Google this month took on rivals Apple, Samsung and Amazon in a new push into hardware, launching premium-priced Pixel smartphones and a slew of other devices showcasing artificial intelligence prowess.

The unveiling of Google’s in-house designed phone came as part of an expanded hardware move by the US company, which also revealed details about its new “home assistant” virtual reality headset and Wi-Fi router system.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...