However this was tempered after expenses jumped 27 percent to $24.7bn (£17.4bn) in the fourth quarter from the year-earlier period. He said it is now a billion-dollar-a-quarter business that's growing faster than any other major cloud provider, though that's from a much smaller base well behind AWS and Microsoft Azure. The hardware category saw revenue of $4.69 billion, a 38% over a year ago.
The profit figure excludes a US$9.9-billion tax charge as Alphabet joined much of corporate America in reporting large one-time expenses in the fourth quarter due to USA legislation enacted in December that lowers corporate rates. The firm had revenue of $20.92 billion during the quarter, compared to analysts' expectations of $20.83 billion. There are now over 30,000 skills from outside developers, customers can control more than 4,000 smart home devices from 1,200 unique brands with Alexa, and we're seeing strong response to our new far-field voice kit for manufacturers.
Alphabet reported income of $7.66 billion, or $4.35 per share for the quarter, up from the $6.64 billion, or $7.56 per share during the same period of a year ago.
Google's Other revenues, which includes hardware products and cloud services, were $4.69 billion, up from $3.4 billion a year ago.
AE Wealth Management LLC reduced its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 9.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. TAC as a percent of Google Network Members' properties revenues increased to 74% from 70% a year ago.
U.S. lawmakers blast Trump decision to hold off on Russian Federation sanctions
They insist this is proof he's "soft" of Russian Federation . "We know what we want". Some of the people on the list have long fallen out of favor with the Kremlin .
"Our business is driving great growth, with 2017 revenues of $110.9 billion, up 23% year on year, and fourth quarter revenues of $32.3 billion, up 24% year on year".
In particular, Google's last quarters have been marked with the creeping shadow of increasing costs for its traffic acquisition as a percentage of Google's revenue, or TAC. Net income was $12.6 billion for the 2017 fiscal year, compared to $19.4 billion in revenues in 2016, once again reflecting the one time charge due to the tax law change. The operating loss attributed to the other bets has also shrunk year over year, from almost $1.1 billion to $916 million.
"Google Cloud Platform and G-Suite have reached meaningful scale ..."
Google shares were roughly flat when the market closed on Thursday after Alphabet posted earnings less than what Wall Street expected.
Alphabet announced in its earnings report that it appointed John Hennessy as chairman of the board. Unlike many online publications, we don't have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic.