Google parent Alphabet Inc reported quarterly results on Monday that show costs ...
The new businesses are pushing Google into sales of subscriptions, devices and technology licenses. But it has had to invest in people, facilities and content. Google is on track to hire more than 20,000 people this year, in large part to staff its newer units.
For instance, Alphabet reported $1.5 billion in unrealized losses in the third quarter from shares held in other companies, helping negate about $1 billion in profit. But an Alphabet spokeswoman declined to disclose which investments lost money. “In the last 12 months, we’re generating over $150 billion in total revenues, that’s about $25 billion of growth in the last year,” she said.Google has tried to demonstrate that its cloud-computing business is roaring, disclosing last quarter about $2 billion in revenue and saying that plans continued to hire thousands to stoke the unit’s growth.
But spending has not been held back and higher costs loom as Google deals with clashes with regulators. Total quarterly expenses grew 25% compared to a year ago - a similar rate to recent periods - to $31.3 billion. It topped the previous high of $31.1 billion in the 2018 fourth quarter. FILE PHOTO: A sign is pictured outs a Google office near the company's headquarters in Mountain View, California, U.S., May 8, 2019. REUTERS/Dave Paresh
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