Google’s (GOOG, GOOGL) parent company Alphabet reported its Q1 2018 financial results on Monday, posting earnings of $13.33 per share on $31.15 billion of revenue. Those numbers beat analyst expectations of $9.30 per share on $24.75 billion in revenue, respectively.
The company’s revenue reflects a 26% jump over last year’s levels, or 23% on a constant currency basis. Traffic acquisition costs were up to $6.3 billion in Q1 2018 versus $4.6 billion in Q1 2017.
Operating losses from Google’s Other Bets, which include business segments such as its health tech-focused Verily and Google Fiber, decreased from $703 million in Q1 2017 to $571 million in Q1 2018.
Google’s other revenues, which include its cloud division and hardware sales such as smartphones and the Nest line of home automation technologies, rose from $3.2 billion in Q1 2017 to $4.4 billion in Q1 2018.
Alphabet shares initially jumped 3% following the announcement, but are now flat.
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