With the year well underway, Alphabet today announced Q2 2019 earnings with $38.94 billion in revenue. These numbers range from April to June, and slightly surpassed expectations with the stock up 7.39% in after-hours trading.
Revenue is up 19% from $32.65 billion in Q2 2018, with net income at $9.18 billion for this quarter. For comparison, Alphabet reported $36.33 billion in revenue and a $6.6 billion in net income last quarter. Analyst for Q2 2019 were expecting $38.2B in revenue, leading to the current after-hours bump.
“Our effort to build a more helpful Google for everyone brings countless opportunities to help users, partners, and enterprise customers every day,” said Sundar Pichai, Chief Executive Officer of Google. “From improvements in core information products such as Search, Maps, and the Google Assistant, to new breakthroughs in AI and our growing Cloud and Hardware offerings, I’m incredibly excited by the momentum across Google’s businesses and the innovation that is fueling our growth.”
“With revenues of $38.9 billion, up 19% versus the second quarter of 2018 and up 22% on a constant currency basis, we’re delivering strong growth,” said Ruth Porat, Chief Financial Officer of Alphabet and Google. “Our ongoing investments in compute capabilities and engineering talent reflect the compelling opportunities we see across the company.”
“Google other revenues” — which includes hardware, Play Store, and Google Cloud enterprise efforts — reported $6.18 billion, compared to $4.4 billion the same quarter last year.
The closely-watched “Other Bets” continues to lose money, but is slowly increasing revenue. It reported $162 million revenue primarily generated by Verily and Fiber, with operating loss up to $989 million from $868 million in the previous quarter.
Alphabet will hold an earnings call with investors and members of the press to further break down numbers from the Q2 2019 earnings release. You can follow along via the livestream below and we’ll have coverage of any notable tidbits the company reveals.
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