We recently showed you LG's Q3 2017 financial report and for them, the company's mobile division is still losing hundreds of millions of dollars. However, things are looking up for Alphabet as the company just revealed their earnings information for this past quarter. Advertising revenue from Google is still the king for the company when it comes to how much money they brought in, but they were able to increase overall revenue by 24% when compared to the same quarter last year.
Yesterday, the company held their quarterly financial report for the third quarter of this year. As a whole, Alphabet was able to bring in $27.8 billion in total revenues which, as mentioned, is up 24% compared to last year's third quarter which was $22.45 billion. Google was the main source of this incoming as it brought in all of that $27.5 billion whereas $302 million came from Alphabet's "other bets" moonshot projects that they work on.
Of this $27.5 billion that Google brought in, $19.7 billion came from Google properties, $4.3 billion came from Google's network, and Google's "other revenues" accounted for $3.4 billion. Advertising as a whole was able to bring in just over $24 billion and this shows you just how much Google relies on online advertising. Of this $27.8 billion that Alphabet brought in, $7.8 billion is how much they were able to make in operating profit.
As we mentioned before, Google is spending more on traffic acquisition and that shows in this financial report. During the last quarter they spent $3.1 billion on traffic acquisition costs (TAC) which is up from $2.6 billion during the same quarter last year. Still, it was definitely a great quarter for the Mountain View tech giant and during the earnings call (which you can listen to below), they even revealed that the amount of people pre-ordering the Pixel 2 was more than double what the company saw last year with the original Pixel phones.
Source: Alphabet
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