Alphabet, the world's largest provider of search and video ads, reported a 68.4 per cent jump in third-quarter net profit on an annual basis, underpinned by a strong performance of Google Services business.
That includes advertisements, Android, Chrome, hardware, Maps, Search, Google Play and YouTube.
Net profit at Google's parent company jumped to $18.9 billion in the three months to the end of September, almost $7.7bn more than the same period last year. It was nearly 2.2 per cent up on a quarterly basis.
Revenue during the period rose 41 per cent to $65.1bn, exceeding analysts’ estimates for $63.3bn.
“Five years ago, I laid out our vision to become an AI-first company,” Alphabet chief executive Sundar Pichai said. "This quarter’s results show how our investments there are enabling us to build more helpful products for people and our partners. Ongoing improvements to Search and the new Pixel 6 are great examples.
"As the digital transformation and shift to hybrid work continue, our cloud services are helping organisations to collaborate and stay secure."
Last week, the company launched two smartphones, the Pixel 6 and Pixel 6 Pro, to take a piece of the market from Samsung and Apple.
Google’s advertising revenue from Search, YouTube and other businesses increased 43.2 per cent yearly to $53.1bn in the third quarter.
Google Services constituted nearly 92 per cent of the company’s total sales. It added $59.9bn to the overall revenue, almost 41 per cent more than the third quarter of 2020.
The total revenue from the cloud business grew an annual 44.8 per cent to more than $4.9bn, while revenue from other bets, or subsidiaries, increased more than 2 per cent yearly to $182 million.
Google cloud includes company’s infrastructure and data analytics platforms, collaboration tools and other services for enterprise customers.
It generates revenues mainly from fees received for cloud platform services and workspace collaboration tools.
Other bets are derived mainly through the sale of internet offerings as well as licensing and research and development services. This includes Alphabet’s X lab, self-driving unit Waymo and other non-Google companies.
Alphabet spent $7.7bn on research and development, nearly 11.8 per cent of its total sales in the third quarter. It was 12.2 per cent more than the R&D expenditure of the same period last year.
Google continued to deliver across its business “by providing helpful and valuable experiences for both consumers and our partners”, said the company’s chief financial officer, Ruth Porat.
“Our consistent investments to support long-term growth are reflected in strong financial performance,” Ms Porat said.
YouTube added more than $7.2bn to Alphabet’s revenues, surging more than 43 per cent annually, and was close to streaming service company Netflix’s third-quarter revenue of $7.5bn.
Google seems to be not much affected by the privacy changes that Apple made to its operating system this year.
The new changes let users to opt in or out of app tracking, restricting how technology companies such as Facebook gather data for advertising purposes.
Google is protected to some extent as it owns the Android operating system.
The new privacy features had a “modest impact on YouTube revenues … focusing on privacy has been core to what we’ve been doing consistently", Ms Porat said.
Retail was one of the biggest contributors to the company’s advertising growth, Google’s chief business officer Philipp Schindler said in an earnings call.
“We continue to see a lot of unevenness … it is clear that uncertainty is the new normal,” Mr Schindler said, referring to the pandemic recovery.
The company rebought and later retired 4.6 million aggregate shares for $12.6bn in the third quarter.
It ended the quarter with total cash, cash equivalents and marketable securities worth more than $142bn.
FA CUP FINAL
Chelsea 1
Hazard (22' pen)
Manchester United 0
Man of the match: Eden Hazard (Chelsea)
Mica
Director: Ismael Ferroukhi
Stars: Zakaria Inan, Sabrina Ouazani
3 stars
What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
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In numbers
- Number of children under five will fall from 681 million in 2017 to 401m in 2100
- Over-80s will rise from 141m in 2017 to 866m in 2100
- Nigeria will become the world’s second most populous country with 791m by 2100, behind India
- China will fall dramatically from a peak of 2.4 billion in 2024 to 732 million by 2100
- an average of 2.1 children per woman is required to sustain population growth
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Specs
Engine: 2-litre
Transmission: Eight-speed automatic
Power: 255hp
Torque: 273Nm
Price: Dh240,000
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
RESULTS
Light Flyweight (48kg): Alua Balkibekova (KAZ) beat Gulasal Sultonalieva (UZB) by points 4-1.
Flyweight (51kg): Nazym Kyzaibay (KAZ) beat Mary Kom (IND) 3-2.
Bantamweight (54kg): Dina Zholaman (KAZ) beat Sitora Shogdarova (UZB) 3-2.
Featherweight (57kg): Sitora Turdibekova (UZB) beat Vladislava Kukhta (KAZ) 5-0.
Lightweight (60kg): Rimma Volossenko (KAZ) beat Huswatun Hasanah (INA) KO round-1.
Light Welterweight (64kg): Milana Safronova (KAZ) beat Lalbuatsaihi (IND) 3-2.
Welterweight (69kg): Valentina Khalzova (KAZ) beat Navbakhor Khamidova (UZB) 5-0
Middleweight (75kg): Pooja Rani (IND) beat Mavluda Movlonova (UZB) 5-0.
Light Heavyweight (81kg): Farida Sholtay (KAZ) beat Ruzmetova Sokhiba (UZB) 5-0.
Heavyweight (81 kg): Lazzat Kungeibayeva (KAZ) beat Anupama (IND) 3-2.
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
Last-16
France 4
Griezmann (13' pen), Pavard (57'), Mbappe (64', 68')
Argentina 3
Di Maria (41'), Mercado (48'), Aguero (90 3')
What is safeguarding?
“Safeguarding, not just in sport, but in all walks of life, is making sure that policies are put in place that make sure your child is safe; when they attend a football club, a tennis club, that there are welfare officers at clubs who are qualified to a standard to make sure your child is safe in that environment,” Derek Bell explains.
The specs: Lamborghini Aventador SVJ
Price, base: Dh1,731,672
Engine: 6.5-litre V12
Gearbox: Seven-speed automatic
Power: 770hp @ 8,500rpm
Torque: 720Nm @ 6,750rpm
Fuel economy: 19.6L / 100km
The Cairo Statement
1: Commit to countering all types of terrorism and extremism in all their manifestations
2: Denounce violence and the rhetoric of hatred
3: Adhere to the full compliance with the Riyadh accord of 2014 and the subsequent meeting and executive procedures approved in 2014 by the GCC
4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.
5: Refrain from interfering in the internal affairs of countries and of supporting rogue entities.
6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security
Get Out
Director: Jordan Peele
Stars: Daniel Kaluuya, Allison Williams, Catherine Keener, Bradley Whitford
Four stars
