Alphabet Inc. (NASDAQ:GOOG) missed predictions despite surge in profits

Alphabet Inc. (NASDAQ:GOOG) missed predictions despite surge in profits

In its most recent quarter, the accelerating trend toward mobile searches may have impacted Google's results. The company provides web-based search, advertisements, maps, software applications, mobile operating systems, consumer content, enterprise solutions, commerce and hardware products through its subsidiaries.

Alphabet Inc., formerly known as Google, is engaged in the technology business. "We see tremendous potential ahead for these businesses, as well as in the continued development of non-advertising revenue streams for YouTube", she added.

Advertising revenues, which account for the vast majority of Google's revenues, rose 17.4 percent, to $22.4 billion.

Although Alphabet has grand designs on changing the world with self-driving cars, cures for disease, internet balloons, and all sorts of other fantastical projects, for now those ambitions are mostly money pits.

Other new Alphabet offerings including hardware like the Google Pixel phone, the Daydream VR headset and the Google Home digital assistant also look promising, contributing to a 62% jump in growth for the company's non-advertising business, per the Journal, though advertising remains its dominant source of revenue by a wide margin.

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First, Alphabet isn't in the habit of providing specific quarterly financial guidance.

Alphabet booked revenue of $26 billion during the three months ending December 31 2016, compared to $21.3 billion during the same time a year ago.

The company saw overall revenue of $26.1 billion for the quarter ending December 31, up 22% from the same time past year. CFO Ruth Porat notes, "great momentum in Google's newer investment areas and ongoing strong progress in Other Bet". Amazon, on the other hand, said AWS's revenue rose 55% to $3.2 billion in 3Q16.

Bloomberg recently reported that Alphabet sold an estimated 1 million Pixels last quarter; the company doesn't provide such details.

The internet giant posted revenues of $26.1bn, up 22% from the same period a year earlier. Indeed, Other Bets made $809 million in the entirety of 2016, which is up 82 percent over 2015. Aggregate cost-per-click fell 15 percent, but aggregate paid clicks were up 36 percent compared to the same quarter a year ago. The Times reported that clicks on Google's ads "are growing faster on its own websites like YouTube" which Google said "more than a billion people watch every month, viewing hundreds of millions of hours of its videos every day".

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