Alphabet has just published Q2 2017 earnings of $26.01 billion, up 21% from the same quarter last year. While these numbers beat analyst revenue expectations of $25.64 billion, the stock is down 3% in after-hours trading.
“With revenues of $26 billion, up 21% versus the second quarter of 2016 and 23% on a constant currency basis, we’re delivering strong growth with great underlying momentum, while continuing to make focused investments in new revenue streams,” said Ruth Porat, CFO of Alphabet.
Hardware sales of the Google Pixel and Home are grouped together with the Play Store, enterprise efforts, and more in “Other Revenues.” This quarter it’s at $3.09 billion, compared to $2.17 billion the same quarter last year.
Alphabet’s “Other Bets” continues to lose money, but are slowly increasing revenue (and becoming more healthy in terms of operating loss). Alphabet reported $284 million revenue primarily generated by Nest, Verily, and Fiber, with operating loss down to $772 million from $855 million in the same quarter a year prior.
Earlier today, Google CEO Sundar Pichai was added as Alphabet’s 13th board member and the second executive representative from Google proper.
As usual, Alphabet will hold an earnings call with investors and members of the press to further break down numbers from its Q2 2017 earnings release. You can follow along via the livestream below and we’ll have coverage of any notable tidbits the company reveals.