Alphabet’s Sales came in at $29.5 billion, excluding payments to distribution partners, Alphabet said in a statement on Monday. Wall Street was looking for $30.04 billion, according to the average of analysts’ estimates compiled by Bloomberg.
Google Chief Financial Officer Ruth Porat blamed some of the growth decline on currency fluctuations. In an interview with Bloomberg TV, she also shrugged off Amazon’s foray into advertising and said there’s still lots of room for growth for all digital ad companies because so much marketing money is still spent offline.
Ad revenue growth was solid on mobile, but barely present on desktop and tablets, according to data gathered by digital marketing agency Merkle. That contributed to the overall slowdown, Merkle’s associate director of research Andy Taylor said. Net income was $6.66 billion, or $9.50 a share, versus $9.4 billion, or $13.33 a share, a year earlier, the Mountain View, California-based company said. The latest results were dented by a $1.7 billion European Commission fine for antitrust violations. Excluding that, profit was $11.90 a share.
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