Google (Alphabet) beats forecasts, revenue climbs 22%
MOUNTAIN VIEW, Calif. – April 27, 2017 – Alphabet Inc. today announced financial results for the quarter ended March 31, 2017.
“Our excellent results represent a terrific start to 2017, with revenues up 22% versus the first quarter of 2016 and 24% on a constant currency basis. We clearly continue to benefit from our ongoing investments in product innovation and have great momentum in our new businesses across Alphabet,” said Ruth Porat, CFO of Alphabet.
Q1 2017 financial highlights
The following summarizes our consolidated financial results for the quarters ended March 31, 2016 and 2017 (in millions, except for per share information, effective tax rate, and headcount; unaudited):
In the first quarter of 2017, we refined our methodology for paid clicks and cost-per-click to include additional categories of TrueView engagement ads and exclude non-engagement based trial ad formats. This change resulted in a modest increase in paid clicks and a modest decrease in cost-per-click. For comparison purposes, we have included updated data for historical periods. Please see the table captioned “Monetization metrics” included at the end of this release.