Posted on July 26, 2019 by staff

Google parent company Alphabet posts $9.18bn income

Google parent company Alphabet posts $9.18bn income

Googleplex, home to Alphabet Inc., in Mountain View, California
Googleplex, home to Alphabet Inc., in Mountain View, California

Alphabet, the parent company of Google, has posted a second quarter revenue of $38.9 billion, up 19 per cent on the previous year and ahead of expectations.

Alphabet is the parent company of Google, AI-firm Deepmind and self-driving car firm Waymo, among others.

Google Properties’ revenue was up 17.5 per cent, an increase on its Q1 growth.

Google’s core products, which include Search, Maps and its Google Assistant, were singled out as key drivers by Google chief executive Sundar Pichai, alongside the internet giant’s advancements in AI and hardware.

The company recently shared its research into AI powered ‘digital pathology’ for the detection of cancer, and improved technology for people with speech impairments.

But it has also received criticism and revolt from its own employees over its work with the US Department of Defense.

The tech giant is also under investigation by the US Department of Justice over its dominance in the tech sector.

On a conference call, Pichai said of the firm understood there would be scrutiny and would “engage constructively” while focusing on its products.

“I’m incredibly excited by the momentum across Google’s businesses and the innovation that is fueling our growth,” he said.

“Our effort to build a more helpful Google for everyone brings countless opportunities to help users, partners, and enterprise customers every day.”

Ruth Porat, Chief Financial Officer of Alphabet and Google, said: “Our ongoing investments in compute capabilities and engineering talent reflect the compelling opportunities we see across the company.”