by Alphabet continued the parade of quarterly financial statements. On the calendar of the parent holding Google on June 30, the second quarter of the 2020 financial year ended. And this quarter turned out to be far from the most successful – for the first time in its relatively short 5-year history, the holding recorded a decrease in quarterly revenue. We have selected the most important from the report.
For the three-month period from April to June, the total revenue of the holding amounted to $ 38.3 billion. This is 2% lower than in the same period a year earlier. Net income fell from $ 9.2 billion to $ 6.4 billion, or from $ 14.21 to $ 10.13 per share. In a commentary, Google CFO Ruth Porat noted that the company continues to adapt “in the face of the global crisis.” The quarterly ad revenue, which accounts for the bulk of Google’s revenue, which still provides the lion’s share of Alphabet’s revenue, fell by more than $ 2 in a year. 5 billion – from $ 32.5 billion to $ 29.9 billion. Of this amount, YouTube accounted for $ 3.8 billion against $ 3.6 billion a year earlier. The total revenue of the Other direction, which includes hardware products (Pixel smartphones, Home smart speakers and others devices), Google Play store and cloud services increased from $ 4 billion to $ 5.1 billion. YouTube’s non-ad revenue (YouTube Music and Premium subscriptions) also counts among the overall results of Other. Google Cloud cloud business grew from $ 2.1 billion to $ 3 In a conference call for the quarter, Google CEO Sundar Pichai said YouTube and Google Play subscriptions showed “solid growth” last quarter, with app and game downloads up 35%. The structural units of the Other Bets holding (self-driving Waymo cars, Wing drone delivery service, Project Loon, Verily, Google X, Nest, Calico and others) are still unprofitable. Over the year, their overall result deteriorated even more – losses increased from $ 989 million to $ 1.1 billion. As of June 30, 2020, the company had $ 17.7 billion in cash and cash equivalents, while on December 31, 2019 the indicator was $ 18.5 billion The number of full-time employees at Alphabet worldwide increased from 107,646 to 127,498 in a year. The head of Google, along with directors of other IT giants, appeared in the US Congress in the framework of an ongoing major antitrust case. … When asked by investors about antitrust investigations involving Google and Android, Pichai said the company is “adapting,” adding, “I think the investigation will continue for some time.”
Source: Alphabet
