Revenues From Google's Cloud, Hardware And Play Units Grow in Q4

Alphabet's net income rose to US$5.33 billion, or US$7.56 per Class A and B share and Class C capital stock, in the fourth quarter, from US$4.92 billion, or US$7.06 per share, a year earlier. According to Alphabet CFO Ruth Porat, "Our growth in the fourth quarter was exceptional - with revenues up 22% year on year and 24% on a constant currency basis".

Google's parent company Alphabet has said that revenues for the fourth quarter surged 22pc on the back of mobile search and YouTube.

Meanwhile, Google's earnings with Play, Cloud and Hardware were up 62 percent to $3.4 billion in the fourth quarter, from $2.1 billion in the same quarter a year earlier.

Incidentally, shares of Alphabet are now down almost 2% in after-hours trading. Revenue came in at $26 billion powered by strength in sales of its cloud offerings, like Azure, which almost doubled. As expected, aggregate costs-per-clicks on mobile, or what Google earns from each click on an ad in mobile search, declined in the last quarter. The moon shots includes things like Project Wing and Google's self-driving auto project which has now transformed into Waymo, and while they're certainly ambitious and lofty goals that the company sees as a beneficial series of developments, the research and development for those projects also doesn't come cheap.

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Doshi also said he expects YouTube to generate $14 billion to $15 billion in gross revenue this year, making it a possible catalyst for the stock.

Google Chief Executive Sundar Pichai said Google Cloud is gaining momentum fast, thanks to targeted efforts in machine learning, data analytics and security.

In the Alphabet report, these projects, which are practically all other products and services outside of Google and YouTube, have been lumped in a category called "Other Bets".

"Revenue increased 22%. For a company of Alphabet's size, that's pretty tremendous", said CFRA analyst Scott Kessler.

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Google is still the jewel in Alphabet's financial results crown, helping drive revenues up 22-percent year-on-year in Q4 2016, but its "moonshot" projects remain a money pit.

Alphabet's "Other Bets" division, which includes everything outside Google and YouTube, managed to reduce its losses.

"I think it's important for us to work in the intersection of hardware, software and services", Pichai said Thursday on a call with analysts.

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