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Google parent, Alphabet, gets a boost from advertising sales

1 Min Read
Google

Alphabet – Google’s parent company – has reported a 17% rise in quarterly revenue after strong advertising sales on mobile devices.

Revenue rose to $20.26bn (£14bn) between January and March, from $17.26bn a year earlier.

But Alphabet’s share price fell about 6% in after-hours trading, as the revenue figure fell short of analysts’ expectations.

Net income for the quarter was $4.2bn, up from $3.5bn a year ago.

The earnings report came one day after the European Commission issued formal antitrust charges against Google over claims that it abuses the dominant market position of its Android operating system.

Google’s advertising revenue jumped 16.2% in the first quarter to $18.02bn. The company said the number of ads, also known as paid clicks, jumped 29%.

But the average price of online ads, known as cost-per-click, fell 9% in the quarter.

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