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Google\u2019s parent company Alphabet has revealed a more than 20% increase in revenue in its latest financial results.<\/p>\nGoogle\u2019s parent company Alphabet has revealed a more than 20% increase in revenue in its latest financial results.<\/p>\n
The technology giant reported revenue of $32.7billion for the last three months, up 26% on the same period last year.<\/p>\n
The figures come despite the European Commission issuing the firm with a more than $4billion dollar fine for competition breaches linked to its Android operating system last week.<\/p>\n
The company released separate financial results that both included and excluded the fine to help with comparisons to previous quarters.<\/p>\n
Excluding the fine, Alphabet said net income was $8.3billion, but once its impact was taken into account that figure dropped to $3.2billion.<\/p>\n
\u201cWe delivered another quarter of very strong performance, with revenues of $32.7billion, up 26% versus the second quarter of 2017 and 23% on a constant currency basis,\u201d Alphabet chief financial officer Ruth Porat said.<\/p>\n
\u201cOur investments are driving great experiences for users, strong results for advertisers, and new business opportunities for Google and Alphabet.\u201d<\/p>\n
The earnings figures beat analyst expectations.<\/p>\n
Elsewhere in the results, the so-called Other Bets segment of the company, which refers to Alphabet\u2019s more futuristic projects \u2013 including the Waymo driverless car business \u2013 also reported some growth compared to the same period last year, with revenue rising from $97million to $145million.<\/p>\n