Alphabet Inc. (NASDAQ: GOOGL) released its most recent quarterly results after markets closed Monday. The company reported $13.33 in earnings per share (EPS) on $31.15 billion in revenue, compared with consensus estimates that called for $9.31 in EPS on $30.31 billion in revenue. The same period from last year had $7.73 in EPS on $24.75 billion in revenue.
Traffic acquisition costs (TAC) to Google Network Members and distribution partners totaled $6.29 billion at the end of the quarter, up from $4.63 billion in the same period last year. Total TAC as a percent of Google advertising revenues was 24% for the quarter, up from 22%.
Paid clicks on Google properties increased 59% year over year, and 8% quarter over quarter. The cost-per-click on Google properties decreased 19% year over year, and 7% quarter over quarter.
In terms of its segments Alphabet reported:
- Google advertising revenues totaled $26.64 billion, up 24.4% year over year.
- Google other revenues totaled $4.35 billion, up 35.8%.
- Other Bets revenues totaled $150 million, up 13.6%.
On the books, cash, cash equivalents, and marketable securities totaled $102.89 billion at the end of the quarter, versus $101.87 billion at the end of the previous fiscal year.
Ruth Porat, CFO of Alphabet and Google, commented:
Our ongoing strong revenue growth reflects our momentum globally, up 26% versus the first quarter of 2017 and 23% on a constant currency basis to $31.1 billion. We have a clear set of exciting opportunities ahead, and our strong growth enables us to invest in them with confidence.
Shares of Alphabet closed Monday at $1,073.81, with a consensus analyst price target of $1,278.21 and a 52-week range of $866.11 to $1,198.00. Following the announcement, the stock was up 3.6% at $1,112.54 in the after-hours trading session.
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