Google parent company, Alphabet, has released its quarterly earnings for the final fiscal quarter of 2016, as well as its year-end financial results, revealing revenue of $26.1 billion USD for the quarter ended December 31st, 2016, an improvement on the $25 billion expected by analysts.
This is a 22 percent increase year over year. It’s important to note that when adjusted for payments for online traffic from distribution partners, fourth quarter revenue amounts to $21.2 billion.
Overall, Google recorded revenues of $90.2 billion USD for the whole fiscal year.
While Google’s search segment still represents the vast majority of the company’s revenue at $25.8 billion, the Other Bets division (responsible for everything outside of Google and YouTube) is slowly but surely gaining traction with $262 million in recorded revenue this past quarter.
That’s up from $150 million at the same time last year. Its losses are also decreasing. In the 2015 fourth quarter results, Google revealed it lost $1.2 billion on the ‘moon shots’ division. In this year’s results, it lost only $1.08 billion.
This can be partly attributed to Google spinning out its driverless car division project into a standalone company — Waymo.