The internet giant posted revenues of $26.1bn, up 22% from the same period a year earlier. Google is particularly dominant in the mobile space - 96% of all search-ad clicks on mobile devices are Google ads compared to 81% on traditional desktop computers, according to estimates from digital-marketing firm Merkle Inc. Other Bets segment is engaged in the sale of Nest hardware products, Internet and television services through Google Fiber, and licensing and research and development (R&D) services through Verily.
Not reported separately, Google's hardware sales are grouped together with Play Store sales, enterprise efforts, and more in "Other Revenues".
Rather than mobile search, Pivotal expects product innovations like Customer Match and the establishment of marketing technology products to grow Alphabet's market share over time.
Alphabet, while it was still called Google, was founded primarily as a web search engine, and that's still the lion's share of its revenue mix.
Nomura's Anthony DiClemente too is positive on Alphabet's continued strong growth coupled with disciplined cost management. However, it probably hopes that the other bets of its business kick into action earlier and start contributing substantially to the table - specially in face of declining ad-value and saturation, which is Google's main source of revenue.
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Furthermore paid clicks, or clicks on Google ads, surged more than 35%, in contrast with a 33% rise in the third quarter. Porat crowed, "We're seeing great momentum in Google's newer investment areas and ongoing strong progress in Other Bets".
Google's ad revenue, which accounts for the bulk of its business, rose 17.4 per cent to US$22.40 billion in the fourth quarter. "Our cloud business is on a tremendous upswing", he said in comments on the call. And the primary driver within that total was advertising sales, which climbed just over 18%, to $19.82 billion, or 88.3% of total revenue.
"The internal transparency we've provided to our business leaders across the Other Bets and Google is helping us to allocate resources more thoughtfully across the opportunities that we see", Porat said. The US user base isn't expected to grow much-growth will be just 3.2% this year, eMarketer estimates-but that reflects the fact that it is at near saturation levels: eMarketer estimates that almost 85% of digital video viewers are YouTube viewers.
The drop in the stock may have been more related to an unexplained $320 million charge the company took.
Alphabet spent much of the past year narrowing the number of those bets, including shelving a delivery-drone project, scaling back its Google Fiber Internet-access service, and spinning its self-driving vehicle technology off as a separate entity called Waymo.