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Tribune News Service
Tribune News Service
Business
Ethan Baron

Alphabet revenue surges

MOUNTAIN VIEW, Calif. _ Google parent company Alphabet on Thursday beat Wall Street expectations on several fronts, chalking up $21.5 billion in second-quarter revenue, a 21 percent increase over the same period last year.

Analysts had predicted revenue of $20.8 billion for the quarter.

Alphabet's quarterly report also revealed the firm has added more than 9,000 workers over the past year, bringing the workforce up to 66,575.

Profit for the quarter hit $4.9 billion, topping analysts' $4.5 billion forecast. Earnings per share also exceeded expectations, at $8.42, compared to $8.03.

However, the company's "other bets," which encompass everything that's not Google, such as Nest and the Google X "moonshot" experiments lab, recorded an $859 million loss, with $185 million in revenue. In the second quarter of 2015, the Other Bets lost $660 million, with revenue of $74 million.

Google itself took in $21.3 billion in revenue, up 21 percent year over year.

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