Alphabet cracks US$100B in annual revenue as paid clicks soar

Aggregate clicks on Google ads also beat estimates, rising 43%.

Sundar Pichai who heads the Google division of Alphabet has said that Google Cloud services are a $1 billion business in each quarter.

As for Q4, revenues of $32.3 billion allowed for a year-over-year increase of 24% compared to Q4 of 2016.

Revenues at Google websites rose from $17.97 billion to $22.24 billion and Google Network revenues rose from $4.43 billion to $4.99 billion.

Like other big tech companies reporting this quarter, Google logged a $9.9 billion charge related to changes in USA tax law.

Alphabet, Google's parent company, reported a big miss in its fourth-quarter 2017 earnings report Thursday, sending the stock down as much as 6% in after-hours trading. "Other revenues", a category that includes both Google's cloud business as well as its hardware revenue, grew to $4.69 billion, from $3.4 billion in Q4 of 2016.

In the period that ended December, Wall Street is looking for the Mountain View, Calif. -based tech giant to deliver adjusted earnings of $9.98 per share on revenue of $31.87 billion.

Revenues at the Google segment advanced to Dollars 31.914 billion from 25.802 billion, with the operating profit rising to USD 8.763 billion from 7.883 billion.

Alphabet brought in a lot of cash last quarter thanks to Google's swelling ad sales.

"Our business is driving great growth, with 2017 revenues of $110.9 billion, up 23 percent year on year, and fourth quarter revenues of $32.3 billion, up 24 percent year on year", chief financial officer Ruth Porat said.

Alphabet declared that its Board of Directors has initiated a share buyback plan on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in outstanding shares.

The increase in revenue and clicks come despite Google's issues with advertisers past year.

Google could be the fastest-growing cloud computing service provider but it's still playing catch-up to Amazon Web Services.

Google is also naming John Hennessy, who's been on its board since 2004, as its chair following Eric Schmidt departing in December past year.

The increase in TAC could be a "means toward capturing incremental share of advertiser spend from competitors and a way to drive top-line gross revenue", noted Brian Wieser, senior analyst at Pivotal Research.

In an investor call, Zuck brushed this off as a short-term loss in the quest for more "meaningful interactions" in the long term. It reported $409 million revenue primarily generated by Nest, Verily, and Fiber, with operating loss up to $916 million from $812 million in the previous quarter.

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