Google's "other revenues", a category that includes hardware and cloud services, hit almost $3.1 billion (roughly Rs. 19,930 crores) in the most recent quarter, a gain of about 50 percent from the same quarter a year earlier.
"Our excellent results represent a terrific start to 2017, with revenues up 22% versus the first quarter of 2016 and 24% on a constant currency basis". Not surprisingly, CFO Ruth Porat said mobile search growth remains the biggest driver behind Google's paid click momentum, with YouTube and programmatic (software-automated) ad sales also playing roles.
The internet company's revenue rose 22% on the same period past year to 24.7 billion dollars (£19.1bn), a figure that was also more than four billion dollars higher than analysts predicted.
Alphabet's "other bets" division, which includes Nest, Fiber and Verily, did make more money year-over-year, with a $244 million revenue compared to $165 million this time last year. In the final minutes of trading on Thursday, shares hit $891.44, a climb of 24 percent in the last 12 months.
Paid clicks rose 44% overall, with the 53% growth on Google properties partly offset by the more modest 10% growth (still better than in recent quarters) on non-Google sites and apps.
Indeed, it is fair to say that advertising remains the principle cash cow for Alphabet, attributing roughly 87 percent of Alphabet's total revenues. Alphabet Inc., formerly known as Google Inc., is headquartered in Mountain View, California.
Analysts on an average had expected a first-quarter profit of $7.34 per share, according to Thomson Reuters.
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The majority of growth in earnings seems to be coming from an increase in advertising revenues and in net earnings Google's up over a billion since this time previous year.
The company reported an operating income of around $6.56 Billion, with an impressive margin of 27 percent.
"We have wanted to see Google be more than just an advertising company", he said.
But losses widened to US$855 million from US$774 million in the year-ago quarter.
Pichai's massive pay package came even as his two bosses and Google co-founders Larry Page and Sergey Brin, once again drew salaries of only $1 for their roles as CEO and President, respectively, of parent company Alphabet.
"With the change to Alphabet, oversight has been easier because of increased visibility", Page writes.